The all-cash deal, announced in April and valued at about $6.8 billion, will cement Exelon’s hold on the Mid-Atlantic power market by adding Atlantic City Electric, Delmarva Power and Pepco to the three utilities Exelon owns: BGE, ComEd and Peco.
To help smooth the approval process, Exelon has committed $50 million in charitable contributions over the next decade to communities served by Pepco.
Exelon, which owns 23 nuclear power plants, is acquiring a gas and electric transmission company that is one-fifth its size. Pepco, having sold its power plants several years ago, buys its electricity from others.
The agreement comes three years after Exelon bought Baltimore-based Constellation Energy Group, parent of Baltimore Gas and Electric, for $7.9 billion in a deal that extended Exelon’s reach into 38 states and two Canadian provinces. (Wash Post, 8/19/2014)