WASHINGTON — The Pepco-Exelon merger holds a murky future in the Mid-Atlantic after a DC regulator denied the power companies’ application Tuesday.
State regulators in Maryland, Delaware, New Jersey and Virginia had already approved the $6.8 billion merger; now that the DC Public Service Commission unanimously denied it “the whole deal goes down,” says Montgomery County Councilman Roger Berliner.
Pepco and Exelon have 30 days to file an appeal. “We will review our options with respect to this decision and respond once that process is complete.,” they said in a statement.
DC Councilmember David Grosso said an appeal would mean lots of activity around the Wilson Building.
“There will be a bunch of lobbyists from Pepco and Exelon coming in trying to get us to support changing the decision,” Grosso said.
If the power companies don’t file an appeal, or if an appeal doesn’t work out, then DC pulled the plug on what would have been the Mid-Atlantic’s largest electric and gas utility.
“If they try to put a new deal on the table for everybody to look at, if they want to continue to pursue this option then that’s certainly an option–but [then] they play the tape all over again,” Berliner told WMAL.
If Pepco is still interested in finding a partner for a merger, then Grosso suggests finding a company that is committed to renewable energy.
“The only way I would support any kind of merger like this is if the merger clearly supports and demonstrates that they’re doing what’s in the best interest of the public. In this case Exelon didn’t come close to meeting their burden,” Grosso said.
The Pepco-Exelon merger had been in the works since April 2014.