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WASHINGTON (AP) — Power companies Exelon and Pepco have come to an agreement with District of Columbia regulators on a proposed merger.

A press conference announcing the settlement was planned for Tuesday afternoon. The city had previously rejected the companies’ proposed $6.8 billion merger. In late September, the city and companies said they were trying to reach a settlement agreement.

The companies had argued that the merger would stabilize electricity rates and enhance the reliability of electric and gas service. Opponents had argued the merger wouldn’t benefit ratepayers and would harm the environment.

The city was the only jurisdiction to reject the proposed merger between Chicago-based Exelon and Washington-based Pepco. Maryland and Delaware regulators previously approved the deal.