WASHINGTON — City regulators will take another look at the potential Pepco-Exelon merger, following a unanimous vote Wednesday to consider a settlement Exelon reached with the District.
In August, the D.C. Public Service Commission denied an application for the merger, saying it wasn’t good for the public’s interest. Opponents say the merger would be good for Exelon and Pepco shareholders, and bad for ratepayers in the long run.
A community hearing is set to take place before Nov. 17. Public interest hearings are set for Dec. 2 and 3.
Taking another look at the settlement allows Exelon to press its case for approval of the $6.4 billion merger.
“We are pleased that the commission will consider our settlement agreement with the District government, Office of the People’s Counsel, Attorney General and others within the existing proceeding,” Pepco spokeswoman Myra Oppel said in a statement.
Oppel said the new schedule “affords all parties and the public a fair opportunity to present their positions, and ensures that the commission has a complete record to render its decision.”
Anya Schoolman, executive director of D.C. Solar United Neighborhoods, said she’s “very disappointed” with the D.C. commission’s decision.
“We feel that the new settlement is very complicated and deserves a very detailed review, which we think will take longer than the time allocated by the D.C. Public Service Commission,” Schoolman said.
A Pepco-Exelon merger would create one of the largest utilities in the country. D.C. was the only jurisdiction to reject the deal, which had already been approved in Maryland and other states.
The Maryland Public Service Commission approved the deal with 46 conditions the companies must meet. If D.C. approves the merger, the newly combined company is expected to serve roughly 9.8 million customers.
WTOP’s Kate Ryan contributed to this report.
