More woes for Exelon as DC PSC rejects its takeover of Pepco
It hasn’t been a very good week at Exelon headquarters near Chicago. First, four of its reactors–from New Jersey to Illinois, couldn’t clear the PJM capacity auction, putting their future in jeopardy. And this morning came the worst news of all for the company: The Washington DC Public Service Commission unanimously rejected its attempt to take over the local utility Pepco.
Even though four states and FERC (Federal Energy Regulatory Commission) had already approved the deal, approval from all jurisdictions involved is essential to allowing the deal to go through, so DC’s action–if it stands–will kill the deal entirely.
In Maryland, where the PSC voted 3-2 to approve the deal, with conditions, a few months ago, Attorney General Brian Frosh is continuing a legal case to attempt to force the PSC to reconsider its decision. The DC decision may give new impetus to that case, and may give grounds for…
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