Exelon puts in into March 2016 to do it or they will give up. They would like it done by the end of 2015, but the PSC does not want Tiny Tim to have a nice XMAS with a check from Pepco or a merger savings on the family electric bill. So, the poor in Washington D.C. will have to want for any merger benefits as Scrooge THE PSC would rather them go without as they are used to doing.
The excuse for the PSC is to do their job. It may delay rate increases by waiting longer to approve the merger. However, rate increases may be included in the merger and might be higher if inflation picks up next year with higher oil prices.
D.C. government supports the merger and locals support the merger. It will be extremely hard for the three PSC board members to say no. And the Maryland government is not likely to reopen its review. Deal is as good as done.
Ok, we get that you're short. Otherwise, what you've been posting is public knowledge. We probably reed it before you do. If you are going to post something in support of your short, please don't waste our time, and post something we haven't already read elsewhere.
Hi Dadgolfer --- I was not touting exelon, merely pointing out that big business usually wins out, except
when the businesses are so large the fed steps in. This was not the case, however this being a WashDC
deal (and environs) I thought maybe the feds may step in to alter the deal in some fashion. The local
communities did this for the fed somewhat with the concessions they wanted. All the rhetoric that was
preached will not occur without Exelon fussing with the local communities about what they proposed
now that the "deal" is done. Anyone in their right mind can see that any serious outages cannot be
addressed until they occur. This is when we see how Exelon will handle the problems of restoring
power. i doubt if it will be any better than what POM did. How can it.
One outspoken critic, Power D.C., a coalition of residents and small businesses
“Exelon’s latest settlement offer still does not address the fundamental conflicts of interest identified by the PSC when it rejected the merger in August,” the group said in an emailed statement.
Public Citizen, another opponent of the merger, said regulators should make more time for careful review.
“The new fast-track scheme, coupled with the amount of new evidence contained in the settlement does not give the PSC enough time to deliberate or the public to review,” said Allison Fisher, Public Citizen’s energy program outreach director.
In a statement, Pepco (NYSE: POM) said the schedule affords all sides fair opportunity to present their positions. “The procedural schedule approved by the Commission has reply briefs filed on Dec. 18, which would allow for the Commission’s decision sometime in the first quarter of 2016,” the Pepco statement said.
look at the PECO rating with the Better Business Bureau, PECO electric company in Philadelphia is an Exelon Company and Exelon took them over 15 years ago.
Top top exec have to get raises every year, and the stockholders get squat....that's the the american way, The week after I retired and signed to start taking the diveys they (PEPCO) reduced the dividend from $.415 per share to $,25 and in the last 13+ years the dividend went up $.02. Been a holder of this flea bag since 1979. If the merger does not go thru, the big boys will get their yearly raises and the sholders will get the same or a reduced dividend.
See if you qualify for a solar installation!! I am a consultant with SolarCity and will try and help you in any way we can to get some of your power from a reliable resource, THE SUN! Even better, you could qualify for a free installation, all you do is pay for cheaper electricity that won't be affected by utility!!!!
Exelon is trying to close by the end of 2015. However, the opponents of the deal want a more extensive review of the new terms. A new review could push the merger completion into the first quarter of 2016 or later.
I doubt that a complete review is needed. They only need to review the changes.
EXC could probably pick up DC from this group in about five years for half of what they are paying now. Would be good for EXC to get everything else and likely get DC at lower price in future.
A governance model that will deliver cost savings - haha. Let them have DC. The prices will go up and the reliability will be a joke with no capital.
I'm not sure. Currently trying to figure that out myself. The PSC approval is now nothing more than a formality given the legal teams of the govt and Exelon/Pepco have signed off on the new commitments. The original intent was to close last month. I suppose it will be before year end. I'm also thinking Pepco shareholders will get a prorated or full dividend based on the closing date.