EXELON CORPORATION AND PEPCO HOLDINGS, INC. ARE NOW ONE COMPANY
Exelon Corporation (NYSE: EXC) and Pepco Holdings, Inc. (NYSE: POM) announced on March 23 that the two companies have completed their merger transaction. The announcement follows the approval of the merger by the Public Service Commission of the District of Columbia (DC PSC).
The merger brings together Exelon’s three electric and gas utilities — BGE, ComEd and PECO — and Pepco Holdings’ three electric and gas utilities — Atlantic City Electric, Delmarva Power and Pepco — to create the leading mid-Atlantic electric and gas utility company.
Exelon will provide a package of direct benefits — including bill credits, reliability improvements and other investments — worth more than $430 million for customers and communities in Delaware, the District of Columbia, Maryland and New Jersey under the commitments made in those jurisdictions.
The Pepco Holdings companies have joined the Exelon family of companies, and integration efforts are well underway.
Atlantic City Electric, Delmarva Power and Pepco will remain as separate companies and retain their local headquarters in Mays Landing, N.J., Newark, Del., and Washington, D.C., respectively. Together with Exelon’s other three utilities, they serve approximately 10 million customers across six jurisdictions.
The transaction was approved by Pepco Holdings’ shareholders, and regulatory approvals have been issued by the Federal Energy Regulatory Commission, the New Jersey Board of Public Utilities, the Delaware Public Service Commission, the Maryland Public Service Commission, and the Virginia State Corporation Commission, in addition to the DC PSC.