DC Water Is Latest to Oppose Exelon-Pepco Settlement | NBC4 Washington
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DC Water Is Latest to Oppose Exelon-Pepco Settlement

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    NEWSLETTERS

    D.C. Mayor Muriel Bowser says she can no longer support a proposed $6.8 billion merger of Pepco and Exelon. Tom Sherwood reports. (Published Tuesday, March 1, 2016)

    D.C.'s water and sewer authority is the latest city agency to come out against a revised settlement that would allow energy companies Exelon and Pepco to merge.

    DC Water general manager George Hawkins said in a statement Thursday that he opposes the settlement. Hawkins is one of several city officials that have to sign off on a settlement agreement that was revised last week by city regulators. Mayor Muriel Bowser and Attorney General Karl Racine have also said they won't support the deal, leaving the merger in doubt.

    Exelon's proposed $6.8 billion acquisition of Pepco has been approved by regulators in four states and by the federal government, but it has hit numerous snags in the District.

    Hawkins said the revised settlement terms won't benefit ratepayers.