A PYMNTS Company

US: DC mayor announces settlement in Exelon, Pepco merger

By  |  October 6, 2015

Power companies Exelon and Pepco have negotiated a settlement with District of Columbia officials on a proposed merger.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    DC Mayor Muriel Bowser announced the settlement Tuesday. Bowser says that in addition to other terms, Exelon will invest $78 million in the city, up from a proposed $14 million. The city had previously rejected the companies’ proposed $6.8 billion merger.

    The companies had argued that the merger would stabilize electricity rates and enhance the reliability of electric and gas service. Opponents had argued the merger wouldn’t benefit ratepayers.

    The city was the only jurisdiction to reject the proposed merger between Chicago-based Exelon and Washington-based Pepco. Maryland and Delaware regulators approved the deal.

    The settlement still has to be reviewed by District of Columbia regulators.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.