Proposed Rate Hike Proves Critics of Exelon-Pepco Takeover Were Right All Along
June 30, 2016
Proposed Rate Hike Proves Critics of Exelon-Pepco Takeover Were Right All Along
Statement of David Arkush, Managing Director of Public Citizen’s Climate Program
Note: Today, Pepco filed a case with the Washington D.C. Public Service Commission seeking an $85.47 million rate increase.
The ink has barely dried on Exelon’s takeover of Pepco, and the newly merged company is proving critics right. Public Citizen said the takeover would raise rates, and sure enough it has.
This unprecedented rate increase wouldn’t just erase the $14 million rate credit that residential customers got in exchange for the takeover. It would erase the entire $72.8 million in benefits that Exelon and Pepco claimed the deal would provide.
The only good news is that this takeover can still be undone, and that’s why Public Citizen is still fighting it.
###