POWER DC's STATEMENT Re: Exelon's Attempt at Reviving its Bad Deal
Just minutes ago, Exelon filed a motion with the DC Public Service Commission (PSC) asking for reconsideration of its proposed purchase of PEPCO. Power DC, the coalition of more than two dozen DC-based organizations opposed to the Exelon-PEPCO merger, released the following statement:
“Exelon’s attempt to breathe new life into its takeover of PEPCO should be rejected by the DC Public Service Commission (PSC). The PSC unanimously rejected Exelon’s attempt to buy Pepco in August for a very simple reason: the merger is not in the public interest. Nothing Exelon said today will change that fact.
"Exelon’s business model is fundamentally at odds with the District’s ability to control its own power supply. Exelon has a longstanding history of raising rates, including calling for a $127 million rate increase on its customers in Pennsylvania less than two weeks ago. Exelon is working aggressively in other states to undermine the same incentives for energy efficiency and renewable energy that DC strongly supports.
“This is why half a dozen DC Councilmembers, 27 of 40 Advisory Neighborhood Commissions, dozens of expert and community witnesses and thousands of average DC residents have spoken out against the merger.
“The only outcome to Exelon’s attempted takeover of PEPCO that will be in the public interest is for Exelon to withdraw its offer and go back to Chicago. Then DC residents can get back to the business of building an affordable, reliable and clean power supply for the District.”