Councilmembers Cheh, Grosso, Silverman, and Allen send letter to the Public Service Commission refuting purported benefits of Pepco-Exelon settlement

Letter critically examines the terms in the proposed settlement and urges the PSC to uphold initial ruling rejecting the merger

WASHINGTON, D.C. – Councilmember Mary M. Cheh (D – Ward 3), Councilmember David Grosso (I – At Large), Councilmember Elissa Silverman (I – At Large), and Councilmember Charles Allen (D – Ward 6) sent the attached letter to the representatives of the Public Service Commission of the District of Columbia (PSC), urging them to reject the terms of Formal Case No. 1119. As the Councilmembers state, “many of the alleged benefits of the settlement are either Exelon complying with existing law, agreeing to standards below those already met by Pepco, or short-term benefits that in the long-term have detrimental costs to ratepayers and the District of Columbia.” The letter refutes each of the purported settlement benefits on a point-by-point basis and asserts that the settlement is not in the public’s best interest.

An outline of the letter’s main features is detailed below:
-Benefit for Exelon Equals Risk for District Ratepayers, page 2
-PSC’s Standard of Review, page 3
-Short-Term Thinking in the Proposed Settlement Terms, page 4
-Payments to Ratepayers, Settling Parties, and Nonprofits, page 4
-Jobs, page 6
-Reliability, page 6
-Ring-fencing, page 7
-Environmental Concerns, page 8
-Conclusion: The Proposed Settlement Is Not In the Public Interest, page 10

The letter may be found here: http://apps.washingtonpost.com/g/documents/local/pepco-exelon-letter-on-proposed-settlement/1827/

 

 

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