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After four states, including Delaware, New Jersey, Maryland, Virginia and the Federal Energy Regulatory Commissions (FERC) approved the merger, DC was the last to weigh in, and their decision may stop the merger completely. MD in DE approved the merger with conditions. Exelon and Pepco can petition the PSC for rehearing and if denied can appeal through the court system.
A summary of the PSC's decision is available online and the full decision will be released by close of business on August 26.
Statement by Maryland PIRG Director Emily Scarr in response to the D.C. Public Service Commission's vote to reject the Exelon-Pepco merger:
“We are thrilled that the D.C. Public Service Commission voted to reject the merger between Chicago-based nuclear power giant Exelon Corp. and Pepco Holdings Inc. Today they stood up for D.C. ratepayers and rejected the anti-consumer merger, in so doing they also helped ratepayer in MD, NJ, DE and VA.
"Due in part to Exelon's primary interest being generation of energy, not distribution, the MD PSC cites an 'inherent conflict of interest that might inhibit our local distribution company from moving forward to embrace a cleaner and greener environment.'
"By rejecting the merger, the DS PSC has helped Maryland ratepayers. 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.
"Thousands of Marylanders and DC residents joined Attorney General Brian Frosh, the Maryland and DC People’s Council, Maryland Energy Administration, many of the D.C. neighborhood governments, 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.
“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“Marylanders and DC ratepayers should not be subsidizing this expensive, dangerous and outdated technology.
"As the voice of DC's electricity consumers, we applaud the DC Public Service Commission for standing up for ratepaying families and businesses and rejecting the proposed merger.
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