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US: Unpopular energy utility Pepco inks deal with Exelon

 |  April 30, 2014

Washington-based energy utility Pepco, recently facing criticism from customers over poor service, has reportedly inked a deal to be acquired by Chicago-based Exelon.

According to reports, the deal hopes to improve Pepco services but is unlikely to curb requests from the two electricity firms to raise prices and surcharges. Reports say storms have caused local utilities to seek more costs to address reliability issues.

Reports say the all-cash acquisition values the takeover at $6.8 billion; the merger remains subject to the companies’ board of directors and regulatory scrutiny.

Full content: Washington Post

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