A merger of Chicago-based energy company Exelon and regional Maryland electric company Pepco has received many complaints since the proposal emerged in October. From Tuesday night through early February, twelve public hearings have been scheduled across Maryland allowing the public and opponents of the merger to bring forth their complaints.
Roger Berliner, a Montgomery County Council member, helped found The Coalition for Utility Reform in response to the $6.8 billion merger. The coalition is an advocacy group asking that the merger is only allowed if the new utility’s performance can be tied to its profits. In a newsletter Berliner wrote that the group is opposing the merger because Exelon is already the owner of numerous nuclear power plants and that the merger would prevent the advance of renewable energy advances. The group is also concerned about the near monopoly of the state electric grid seeing that the merged entity would control 85 percent of the grid.
The Maryland Public Service Commission is presently evaluating the merger and can still reject the deal or require conditions. In December, a commission consultant estimated that the merger could potentially cost the state between $41 million and $309.4 million through job losses.
To counter the opposition, Exelon is offering $50 credit to each Pepco customer and explain the company goals of reducing power outage frequency by 38 percent and duration by 43 percent by the year 2020.
Full Content: Bethesda Magazine
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI