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Statement by Maryland PIRG Director Emily Scarr in response to the Maryland Public Service Commission's 3-2 vote to "conditionally" approve the Exelon-Pepco merger.
“We are disappointed that the Maryland Public Service Commission voted 3-2 to approve the merger between Chicago-based nuclear power giant Exelon Corp. and Pepco Holdings Inc. They should have stood up for Maryland ratepayers and rejected the anti-consumer merger.
"Thousands of Marylanders joined Attorney General Brian Frosh, the Maryland People’s Council, Maryland Energy Administration, and dozens of consumer, environmental, faith, community, and other groups to oppose this merger because it is bad for consumers and is not in the public interest.
"This merger could give Exelon control of 85% of the deregulated utility generation and distribution market in Maryland. This virtual monopoly is counter to the competitive marketplace and will put rate paying families and businesses at risk of rate hikes and poor service.
“One of our biggest concerns with the merger is that Exelon's business model is reliant on a fleet of aging, dangerous, and expensive nuclear power plants including two Maryland reactors at Calvert Cliffs. As Exelon makes less money from their nuclear plants - and even starts losing money - they could make up for those losses through higher electric bills.
“Marylanders should not be subsidizing this expensive, dangerous and outdated technology in Maryland or elsewhere.
"As the voice of Maryland’s electricity consumers, the Maryland Public Service Commission failed us today by approving this deal instead of standing up for ratepaying families and businesses.
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