Chicago-based Exelon (NYSE: EXC) and Washington, D.C.-based Pepco (NYSE: POM) filed a proposal with the state PSC that would more than double a proposed customer investment fund, reduce power outages in Maryland and offer a one-time forgiveness of unpaid bills for some low-income families. Exelon, which has holdings including Baltimore Gas and Electric, is attempting to buy Pepco and its subsidiaries including Delmarva Power in a $6.8 billion deal first announced last year.
The offer of increased benefits in Maryland would bring the companies' proposal in line with those it made in states where the acquisition has already won regulators' approval. The New Jersey Board of Public Utilities, the Virginia State Corporation Commission and the Federal Energy Regulatory Commission have all signed off on the deal, and regulators in Delaware recently reached a settlement agreement that's pending.
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3 comments:
They're offering the state a bribe!
With less nearby utilities to compare prices with, it sets the stage for larger price increases in the future. I recall the "cost" to read non-smart meters submitted to the PSC went from around $40 to near $80 when various utilities supplied their own numbers.
Now you tell me this...is it safe to say that 1 person can read at least 3 meters a day? $240 is plenty to supply a truck, a smart phone, and a person (with benefits) to type a number into an app.
Truth is, that person can probably read 4+ meters an hour once they reached their destination. An hour each way, an hour break, and you're left with 20 meters in a typical neighborhood. That should more than offset reading at a few farms/difficult sites.
I agree with 2:43, less competition, means higher prices. Monopoly's like Comcast. More reason to get off the grid if you can.
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