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US: DC mayor rejects Pepco-Exelon plan, $6.8-billion merger appears dead

By  |  March 1, 2016

The District’s resident advocate in government on Tuesday denounced a revised deal to merge Pepco and Exelon, saying the new agreement steals benefits that should be goto ratepayers.

DC People’s Counsel Sandra Mattavous-Frye said the new deal “eviscerates” benefits to the public by removing a provision that would have taken $25.6 million to offset rate increases through March 2019. Ms. Mattavous-Frye said that part of the agreement was “the single most critical provision I supported.”

The Office of the People’s Counsel “has consistently focused throughout this long proceeding on ensuring that any outcome is in the best interest of ratepayers, and that the merger’s claimed benefits will be meaningful and verifiable, particularly for our most vulnerable residential ratepayers for whom electric bills consume a whopping and disproportionate percentage of their income,” Ms. Mattavous-Frye said in a statement.

Full content: The Washington Post

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