Exelon, Pepco ask regulators to reconsider merger rejection

District of Columbia Mayor Muriel Bowser’s administration has entered negotiations with power companies Exelon and Pepco on a settlement that could salvage their proposed merger. | AP file photo

WASHINGTON — Power companies Exelon and Pepco have asked District of Columbia regulators to reconsider their rejection of the companies’ proposed $6.8 billion merger.

The companies filed a motion to reconsider on Monday, arguing that the merger would stabilize electricity rates and enhance the reliability of electric and gas service.

Also on Monday, District Mayor Muriel Bowser announced that the companies are negotiating a settlement with her administration that would address regulators’ concerns.

Opponents say the merger wouldn’t benefit ratepayers and would harm the environment. City Administrator Rashad Young says in a statement that any settlement would address concerns about “affordability, reliability and sustainability.

The city was the only jurisdiction to reject the proposed merger between Chicago-based Exelon and Washington-based Pepco.

Next Up In Business

Netflix looks to curb password sharing, considers ads

Food packager plans to build a new plant, add jobs on the South Side

Putin’s pollock: U.S. seafood imports fuel Russian war machine

Democrat Giannoulias in the driver’s seat in race for campaign cash in hotly contested secretary of state contest

New HIRE360 small-business development center receives $3 million investment

Chicago casino sites gain critics on the City Council