Exelon & Pepco Settle With Montgomery And Prince George's Counties - Quick Facts

(RTTNews) - Exelon Corp. (EXC) and Pepco Holdings Inc. (POM) announced they have reached a settlement agreement with Montgomery and Prince George's counties in the proceeding before the Maryland Public Service Commission to review the companies' proposed merger, which was announced on April 30, 2014. The two counties represent all of Pepco's Maryland customers and nearly three-fourths of Pepco Holdings total customers in Maryland.

The settlement includes commitments aimed at providing benefits to customers and the state through a combination of bill credits, funding for energy-efficiency programs and renewables investments, low-income customer assistance and other provisions including: a commitment to designate a portion of a proposed $94.4 million customer investment fund to provide $36.8 million in bill credits, a commitment to help economically challenged customers lower their energy bills; a $50 million "Green Sustainability Fund"; development of 15 megawatts of solar generation; and a commitment of $4 million to support workforce development programs.

The merger requires approvals by the Maryland Public Service Commission, the Public Service Commission of the District of Columbia and the Delaware Public Service Commission. On Feb. 13, Exelon reached a settlement agreement with staff of the Delaware Public Service Commission and other stakeholders, and the agreement is pending approval by the Commission.