Regulators in the the District of Columbia are taking another look at a proposed merger between Exelon Corp. and Pepco Holdings that would create the largest utility in the U.S.
In August, the D.C. Public Service Commission unanimously rejected the $6.8 billion proposal, saying both companies failed to show how the merger would benefit the district’s citizens. On Wednesday, commissioners decided to reconsider the deal now that it has the blessings of city officials.
D.C. Mayor Muriel E. Bowser announced in early October her office had reached a settlement with Exelon that includes a $78 million investment into the city – a $64 million increase from the original offer.
The settlement also comes with the promise of new job opportunities in D.C. as Exelon moves 100 positions to the city.
Per the PSC’s decision to review the proposal, a community hearing must occur by Nov. 17 and public interest hearings are scheduled Dec. 2 and 3.