A PYMNTS Company

US: Public hearings planned to oppose Maryland power merger

By  |  January 13, 2015
US: Public hearings planned to oppose Maryland power merger

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.

    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.

    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.