Revised Pepco-Exelon Deal
Posted on October 28, 2015 at 2:49 PM
After the Public Service Commission rejected a proposed merger of Pepco and Exelon several months ago, the Mayor, Attorney General, Office of the People’s Counsel and others involved in the proceedings negotiated a settlement that includes millions of dollars in additional concessions from Exelon. Councilmember Nadeau spent a great deal of time reviewing evidentiary hearing testimony before she opposed the original proposal because she believed it did not adequately protect ratepayers and would set back our environmental goals. She, along with six of her council colleagues, have decided to support the proposed settlement, which addresses her original concerns by protecting ratepayers through early 2019, providing assistance for low income citizens and including a commitment to expand solar and wind power along with millions to support additional renewable energy development. While the council has no formal role in the proceedings, they have sent a letter to the Public Service Commission for its consideration. The letter, below, outlines how the proposed settlement addresses Councilmember Nadeau's prior concerns.