D.C. regulator rejects proposed Pepco-Exelon merger!!!

[elleng]

The three-member commission unanimously rejected the utilities’ application, saying it was not in the best interests of the ratepayers.

The commission said it found no evidence the combination would improve the reliability of service and the panel expressed concern about a new management structure at Exelon that would not include a Pepco member on its executive committee, “thereby diminishing the influence of Pepco within the new structure.

“Pepco will become a second tier company in a much larger corporation whose primary interest is not in distribution, but in generation. At a time of change in the energy field, Pepco’s ability to adapt will be constrained by an increased management bureaucracy. We are also concerned about the inherent conflict of interest that might inhibit our local distribution company from moving forward to embrace a cleaner and greener environment.”

Pepco and Exelon have 30 days to ask the commission to reconsider.

http://www.washingtonpost.com/business/capitalbusiness/dc-regulator-rejects-proposed-exelon-pepco-merger/2015/08/25/e927f8ec-4b3b-11e5-902f-39e9219e574b_story.html

Very happy about this, even tho I don't live in DC any longer. Always exciting when a regulatory agency DOES IT'S JOB!!!

[Chathamization]

1. Great news! We should not be paying for Exelon's aging nuclear plants

As bad as Pepco was, it seems like things would be a lot worse under Exelon. They still have 30 days to appeal the ruling; fingers crossed that it stands.

[Chathamization]

2. UPDATE: Exelon and Mayor Bowser working together to push the merger through

D.C. Mayor Muriel Bowser’s office released a statement from D.C.’s lead negotiator Rashad Young, stating the District and Exelon are currently engaged in discussions regarding a settlement agreement that would move the merger forward and address the commission’s concerns.

More here.

[elleng]

3. I thought I heard something on the news about it,

but I don't think I WANT to.

Thanks