Exelon-Pepco merger decision appealed
The Office of People’s Counsel announced Thursday it was appealing a decision by Maryland regulators to approve a $6.9 billion merger between Baltimore Gas and Electric Co. parent Exelon Corp. and Pepco Holdings.
The merger, which also needs the approval of regulators in Washington, drew opposition from critics who worried it would lead to rate hikes and other problems. It was opposed by the Office of People’s Counsel, Maryland’s consumer advocate, as well as the Maryland Energy Administration and state Attorney General Brian Frosh, among others.
The Maryland Public Service Commission approved the deal in a 3-2 vote May 15.
“The majority decision to approve this transaction was flawed, and failed to address the single most important aspect of the law — First, do no harm,” People’s Counsel Paula Carmody said in a statement. “Given the importance of this negative decision to customers and to the future regulation of utilities in Maryland, I am compelled to seek the court’s review of this order, which had elicited a strongly-worded dissent by two Commissioners.”