Tuesday, January 13, 2015

Tonight's Public Hearing on Pepco Merger to be Televised

Do you want to watch tonight's public hearing by the Maryland Public Service Commission on the proposed merger of Pepco Holdings and Chicago-based Exelon Corporation but don't want to go out in the cold? Good news. County Cable Montgomery will televise the hearing live starting at 6 p.m.

In April 2014, Chicago-based Exelon Corp., which owns Baltimore Gas and Electric Co., proposed a $6.8 billion merger with Pepco Holdings, which owns three electric and gas utilities (Pepco, Atlantic City Electric and Delmarva Power). Pepco serves customers in parts of Maryland in the District of Columbia.

The merger was approved by the Federal Energy Regulatory Commission in November, by the Virginia State Corporation Commission in October and by Pepco shareholders in September. However, the proposal still requires approval by the U.S. Department of Justice and public service commissions in Maryland, Delaware, the District of Columbia and New Jersey.

The Maryland Public Service Commission can eventually approve the proposed merger, reject it or impose conditions.

The merger agreement has been unanimously approved by both companies' boards of directors.

If you plan to attend in person and would like to speak, you can sign up in the lobby of the Council Office Building prior to the hearing.

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