Exelon update: Time to end this bad deal
It has been a good few weeks for District ratepayers as Exelon’s attempt to take over Pepco is losing support from D.C.’s decision makers. On February 26, the Public Service Commission rejected the settlement Exelon reached with the Mayor’s office and other D.C. government agencies.
In their rejection, Commissioners offered an alternative settlement. Had the settling parties (including Exelon-Pepco, the Mayor’s Office, Office of the People’s Counsel, and others) approved the Commission offered settlement, the merger would have gone through.
Fortunately, the Commission’s proposal proved to be a non-starter with the settling parties as it removes Exelon’s ability to hide the negative impact of its bad deal by front loading residential ratepayer credits. You helped us as we sent hundreds of letters to the Mayor and other settling parties, urging them to oppose this settlement. Together, we were successful. The Mayor’s office, Office of the People’s Counsel, the D.C. Attorney General, and DC Water have all announced their opposition to the Public Service Commission’s settlement.
Then last week, Exelon and Pepco proposed a reworked settlement as a desperate attempt to salvage their sinking deal. Their cynical offer removed money they had pledged for grid modernization solar and energy efficiency as an attempt to forestall residential rate hikes. The D.C. Government, Office of the People’s Counsel and other settling parties rejected this divisive proposal in filings last Friday.
Now the decision rests again with the Public Service Commission. Their options are to reverse their own ruling and support the initial settlement, accept a proposal from Exelon and Pepco that has no support from the other settling parties, or reject Exelon and Pepco’s bad deal once and for all.
The Commission’s choice is clear. D.C. residents agree with the Office of People’s Counsel. We are “ready to move on and address other challenges and opportunities facing the District.” It is time to move on from Exelon and toward an affordable, reliable, and sustainable energy system for all District residents.