D.C. Regulator’s Approval for the Pepco-Exelon Merger Leads Way for the Largest Utility in the Nation
On Wednesday, the district regulators approved a merger between Pepco Holdings and Exelon Corporation. The deal is worth $6.8 billion and will create the biggest publicly held utility in the United States.
This decision came quite as a surprise in the turn of events as the D. C. regulators earlier had twice rejected the merger deal. In the recent weeks, the deal was on life support as many city leaders including D. C. Mayor Muriel E. Bowser were lined up in the opposition.
The proposal of the merger had been watched very closely by environmentalists, financial analysts and also utility and public-service lawyers countrywide due to its size and because the deal will possibly alter the national utility landscape.
In the course of the merger, Pepco will be absorbed Exelon, headquartered in Chicago, Illinois. It is the American energy company with most number of nuclear reactors and widespread operations extending all over the Midwest, Mid-Atlantic and New England. The company has about 30, 000 employees.
This sale deal will affects approximately two million Mid-Atlantic electricity customers whom Pepco Holdings served. That will include 815,000 or more users in the District and counties of Prince George's and Montgomery. The customers could face a rise in the electric rates as soon as this summer.
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