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US: DC regulators approve $6.8 billion Pepco-Exelon merger

By  |  March 23, 2016

A DC agency approved a $6.8 billion merger between Pepco and Exelon on Wednesday, becoming the last regulator needed to clinch the deal.

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    The Federal Energy Regulatory Commission and commissions in four states — Virginia, Maryland, Delaware and New Jersey — had already approved it.

    On Wednesday, DC’s Public Service Commission approved the merger by a vote of two to one, with one abstention.

    Earlier this month, the power companies had undertaken a last-ditch effect to save the merger, which some DC leaders and civic groups had opposed, saying they were worried about the possibility of higher rates set by a large, out-of-state corporation.

    In an attempt to save the deal, Pepco and Exelon had formally asked the DC Public Service Commission (PSC) to reconsider conditions it put on the merger last month, warning that failure to reconsider could “derail” the merger.

    Full content: Chicago Tribune

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