Heather Curtis
WMAL.com
The regulatory panel charged with deciding the fate of the proposed merger of Pepco and Exelon rejected the proposed deal between the two electric utilities Friday, deciding by a two-to-one vote that the merger was not in the public interest.
D.C.’s Public Service Commission ruled that the agreement undermines competition and doesn’t improve Pepco’s distribution system.
However, the panel provided a lifeline. Commissioner Joanne Doddy Fort offered a revised settlement that included four technical changes which, in her opinion would, make the merger acceptable. Fort’s amended deal was approved on a two-to-one vote, and the panel further decided to give the utilities 14 days to review the new terms and decide whether to accept them. If the utilities reject the revised agreement, the merger won’t go through. If they accept the commission’s changes, the merger will be allowed without further action.
Mike Tidwell with the Chesapeake Climate Action Network says his group is disappointed with the commission’s decision. His group believes the revised agreement still doesn’t address the conflicts of interest that the commission originally found in the proposed merger.
Neither Pepco nor Exelon has commented on the proposed changes.
Copyright 2016 by WMAL.com. All Rights Reserved. (PHOTO: Facebook/Chesapeake Climate Action Network)
