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Commission Denies Pepco/Exelon Merger Application

from FERC

On Aug. 25, the Public Service Commission of the District of Columbia ("Commission") voted to deny an application for acquisition of Pepco Holdings, Inc. (PHI) by Exelon Corporation as not being in the public interest. In determining whether the Proposed Merger is in the public interest pursuant to D.C. Code §§ 34-504 and 34-1001, the Commission first considered the effect of the Proposed Merger transaction on each of the seven public interest factors. This included the effects of the transaction on ratepayers and shareholders, on competition in the local retail and wholesale markets and on conservation of natural resources and preservation of environmental quality. more

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