PepcoExelon1

Pepco Holdings and Exelon Corporation filed a petition for reconsideration for their merger with the Public Service Commission of the District of Columbia on Sept. 28.

The petition comes after the commission declined to approve the merger of the mid-Atlantic companies in August because the companies did not give a give any compelling reason as to why the merger needed to take place in the D.C. The companies were given 30 days to file an appeal.

“We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it,” said Chris Crane, president and CEO of Exelon, in a press release. “Since the Public Service Commission explained why it didn’t approve the merger last month, we’ve worked to learn what’s most important to the District – and we are responding.”

Without the commission’s approval the entire merger along the East Coast was nullified even though other jurisdictions including Virginia, Maryland ad New Jersey approved it. The merger would have made Exelon the largest power producer in the mid-Atlantic region.

“Since the PSC explained why it didn’t approve the merger last month, we’ve worked hard to address the concerns – and we are working to respond in settlement discussions,” Paul Elsberg, corporate communications manager for Exelon told the AFRO in an email, Sept. 29. “In its ruling, the PSC was clear it had a preference for a settlement. We are having productive conversations with the Mayor and the District of Columbia government, as evidenced by their public statements yesterday.”

According to a statement from D.C. Mayor Muriel Bowser, she said she agreed with the commission’s decision to decline the merger. The statement, released on Sept. 28, also confirmed conversations about a potential settlement agreement that would address the administration’s concerns.