Exelon Corp. and Pepco Holdings Inc. issued a statement recently detailing the anticipated benefits from their proposed merger, currently under review by the Washington, D.C., Public Service Commission, which rejected an earlier merger plan.
“If the merger is completed, residents, businesses and organizations in the district would benefit from a stronger utility that would provide enhanced electric service, more affordable rates and more sustainability benefits,” Donna Cooper, regional president for Pepco, said.
Both companies said that through this merger, they would be able to provide approximately $14 million as a direct bill credit across the service area, approximately $50 per residential customer once the merger is completed. The companies also said they would provide up to $16.15 million in low-income assistance associated with energy costs and that approximately $25.6 million would be set aside to keep distribution rates consistent until March of 2019.
The companies also have committed to finance workforce development, efficiency and renewable-energy projects. Exelon also said approximately 100 positions for unionized workers would open up, if the merger were approved.
