Federal City Council (FC2) would like to congratulate Mayor Bowser on reaching a negotiated settlement for the Pepco-Exelon merger. FC2 has supported the merger of Pepco and Exelon since it was announced in April 2014. We have argued in testimony and public statements that a stronger, merged company will provide improved service reliability and substantial economic benefits to the District of Columbia. Today, Mayor Bowser stood with the People’s Counsel, the Attorney General and other stakeholders to announce the agreement, which increases Exelon’s originally proposed investment in the District from $14 million to $78 million. The agreement delivers on Mayor Bowser’s commitment to improve affordability, reliability, and sustainability for ratepayers in the District.
The agreement is set to go before the Public Service Commission for public review and comment. FC2 will continue to be engaged as this legislation moves through the process.