Officials with Pepco Holdings and Exelon say the companies are currently targeting the summer to complete the $6.9 billion merger of the utility giants.
The acquisition of Pepco Holdings, which includes Delmarva Power, Atlantic City Electric and Pepco, would make Exelon one of the largest power providers in the country, serving about 10 million customers primarily in the Mid-Atlantic region. Exelon, based in Chicago, acquired PECO Energy in 2000 and Constellation Energy Group — parent company of Baltimore Gas & Electric — in 2012, and is aggressively looking to expand.
Currently, officials are seeking regulatory approvals from four of the five jurisdictions involved — Maryland, Delaware, New Jersey and Washington, D.C. — as well as the Federal Energy Regulatory Commission and the Department of Justice. On Oct. 8, the two sides received approval from the Virginia State Corporation Commission. The deal had been announced in April and approved by Pepco Holdings shareholders Sept. 23.
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4 comments:
Well, let's get ready for another rate increase!
Solar is looking more affordable
Owemally's so deep in Pepco's pockets, he's likely to fall out the bottom any minute now. The amount of rate increases that his state utility commission has given them is unreal. This is probably the last favor he can offer them. Expect another round huge rate increases very soon!
Soon all their employees will be driving Voltswagons.
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