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Here is some news from DC that is affecting our Atlantic County area here in Absecon New Jersey

 

D.C. mayor withdraws her support for Exelon-Pepco deal

WASHINGTON — District of Columbia Mayor Muriel Bowser says she can no longer support a proposed $6.8 billion merger of Exelon and Atlantic City Electric parent Pepco Holdings.

 

The Washington Post reports Bowser’s administration negotiated for the companies to pay the District $78 million for support for the merger from District, Delaware, Maryland, New Jersey and federal regulators. That would have cushioned district residents from rate increases for four years. But district regulators rejected the plan, saying it wasn’t in the public interest.

The D.C. Public Service Commission said it would reconsider the deal under new terms that removed any guarantee to hold down residential rates. Bowser said in a statement Tuesday that the new terms “gut” protections against residential rate increases.

The New Jersey Board of Public Utilities approved the merger last year.

— Associated Press

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