[WardFive] FW: Exelon/PHI Merger Decision-FC1119 8-25-15

 

 

 

 

 

 

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Office of the People's Counsel for the District of Columbia   1133 15th Street, NW, Suite 500 | Washington, DC 20005 Phone: 202.727.3071 | Fax: 202.727.3071 | TTY/TDD: 202.727.2876   Sandra Mattavous-Frye, People's Counsel     PRESS RELEASE DC Consumers Come Out On Top DC Public Service Commission Denies Exelon/Pepco Merger Application August 25, 2015   (Washington, DC) Today was a historic day for the District of Columbia and its residents and consumers. The DC Public Service Commission voted to deny Exelon Corporation's application for acquisition of Pepco Holdings (PHI). Sandra Mattavous-Frye, the People's Counsel for the District of Columbia, stated that "I opposed this merger application because it failed to provide any meaningful benefits to DC consumers and today the DC Public Service Commission did what was in the best interest of DC ratepayers and denied this proposed merger. This is a watershed moment for the District as Pepco's local leadership and jobs that lead to the middle class remain in place and our established environmental agenda can be advanced."    "This decision recognizes that consumers' voices matter. It was distinguished by unprecedented public opposition, including the Office of the Attorney General, five members of the DC Council, 26 Advisory Neighborhood Commissions, the environmental community and a groundswell of public citizens. The common theme these stakeholders expressed was that the merger would not put consumers in a better position and that its approval included inherent risks," said the People's Counsel.   People's Counsel Sandra Mattavous-Frye stated that "we are at a critical juncture in the electric industry. Technology and public policy aimed at decreasing our carbon footprint and creating a cleaner environment require energy service providers to change their business models. The public is looking at policy and decision makers to make energy choices that benefit them and provide for a future that is environmentally sustainable, fair and equitable."   Pepco and Exelon have 30 days to ask the Commission to reconsider its decision. The Office of the People's Counsel for the District of Columbia will remain vigilant in protecting all DC ratepayers.      ###                The Office of the People's Counsel is the public advocate for natural gas, electric and telecommunications ratepayers in the District of Columbia. _________________________________ 1133 15th Street, NW, Suite 500 | Washington, DC 20005 Phone: 202.727.3071 | Fax: 202.727.1014 | TTY/TDD: 202.727.2876 Website: www.opc-dc.gov | Email: ccceo@opc-dc.gov

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