March 23, 2016
Public Service Commission of the District of Columbia Ignores Public Will, Votes 2-1 to Accept Proposed Exelon-Pepco Takeover
Statement of Allison Fisher, Outreach Director, Public Citizen’s Energy Program
Note: Today, the Public Service Commission of the District of Columbia held an open meeting to release its decision on the latest update to the proposed merger between Exelon Corporation and Pepco Holdings, Inc. To date, both D.C. Mayor Muriel Bowser and D.C. Office of the People’s Counsel Sandra Mattavous-Frye signaled publicly that they could not support this merger. Terms of the merger very clearly halt environmental progress for the District and raise utility rates. Public Citizen has been actively involved in both alerting and mobilizing D.C. residents against the proposed agreement. Public Citizen members who live in the District of Columbia emailed, phoned and testified before the commission opposing the merger.
By clearing the path for Exelon to take over Pepco, the D.C. Public Service Commission has abdicated its responsibility to put the public interest before corporate profits. We are deeply disappointed that the commission discarded its well-informed and publicly supported position to reject the takeover.
This is a huge loss for consumers, a discouraging setback for the institutions entrusted to protect them and a sad commentary on how things are done in the District.