Statement by DC Public Power on the Decision to Reject the Proposed Exelon/Pepco Merger
Washington, DC (PRWEB) August 26, 2015 -- DC Public Power (DCPP) commends the District PSC’s 3 – 0 decision of August 25, 2015 to disapprove the proposed Exelon/Pepco merger. As DCPP had determined, the proposed merger was not in the public interest.
"Just as the merger is not in the public interest, it is also questionable whether Pepco’s continued independent operation of the DC Grid is in the public interest," said Michael Overturf, DC Public Power CEO. “Pepco wants to sell its DC operations, and the District should take the initiative to protect DC’s energy assets by municipalizing the electrical grid.”
DCPP calls upon District officials – the Mayor, the Council, the PSC – to initiate the process for municipalization of the District’s electrical grid as laid out in DCPP’s Town Hall on May 27, 2015. Together with a path that DCPP and others will lay out in FC 1130, a municipalized grid will provide the foundation for substantially lower electric rates, distributed power, greater reliability, and lower emissions.
As a first step, DCPP calls upon the District Council to immediately restore the $250,000 in funds for a public power utility transition study that it had earlier approved, but that was subsequently re-allocated for other purposes.
For more information, please visit dcpublicpower.org.
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About DC Public Power
DC Public Power is a not-for-profit organization dedicated to the promotion and education on the establishment of a public power utility for the District of Columbia. Our goals are to: reduce the cost of electricity distribution, increase efficiency and reliability, maintain local control and jobs, and increase deployment of consumer-owned alternatives.
Victoria Osorio, i-media-international, http://www.i-media-international.com, +1 (212) 537-9080 Ext: 601, [email protected]
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