Pepco Holdings and Exelon have reached a merger settlement with the District of Columbia government, the Office of the People’s Counsel (OPC), the District’s Office of the Attorney General and several other parties. The settlement package was specifically shaped to address the concerns of the D.C. Public Service Commission. Under the new proposal, the companies are providing greater benefits for D.C. residents and businesses to ensure the merger is unequivocally in the public interest. 

The settlement more than doubles the direct benefits to Pepco customers by providing $72.8 million for bill credits, low-income assistance, renewable energy and energy efficiency programs in the District. These funds are expected to offset distribution rate increases for residential customers through March 2019. The settlement also will mean fewer and shorter power outages and use of Exelon’s crews and resources to restore power faster after major storms. 

In addition to immediate customer benefits, the merger also includes a commitment to invest substantially in advancing the District’s long-term sustainability goals. Exelon will invest $7 million to fund new renewable energy and energy efficiency programs. And it will significantly expand solar energy in the District by developing up to 10 megawatts of new solar generation and making it easier and faster for customers to install solar panels. 

Last but not least, the merger will provide residents, businesses and organizations with more economic opportunities than ever before, by creating new jobs and investing millions in the local economy. Exelon and Pepco Holdings will provide an additional $5.2 million for workforce development in the District, and guarantee charitable contributions of $19 million over 10 years for local D.C. nonprofits. 

The merger is the only way our neighbors, community members and local businesses in D.C. will gain these benefits. Ensure the District does not miss this opportunity by supporting the merger and signing the petition.