Anna Forrester
The D.C. Public Service Commission has rejected Exelon‘s proposed $6.4 billion merger with Pepco Holdings due to concerns on the latter’s potentially diminished role in the future management structure, the Washington Post reported Tuesday.
Thomas Heath writes that the commission also indicated a lack of evidence to prove that the transaction will improve utilities services for consumers in the Washington metropolitan region.
Exelon and Pepco have 30 days to file for reconsideration, Heath reports.
The companies agreed to terms of the merger last year and secured approval from the Federal Energy Regulatory Commission in November.
