WASHINGTON, D.C. – Public Citizen and D.C. Solar United Neighborhoods (DC SUN) today are filing a court challenge to the D.C. Public Service Commission’s (PSC) decision to approve Exelon’s takeover of Pepco. The groups believe the merger is not in the public interest, and the petition being filed today is the first step in asking the D.C. Court of Appeals, the district’s highest court, to block the merger.
The $7 billion merger will lead to higher electricity rates and stymie the District’s efforts to shift to renewable energy, the groups maintain. The PSC on June 17 rejected requests by Public Citizen and other groups to reconsider its decision to allow the merger. Since then, Pepco has asked for an $85.5 million rate increase.
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Exelon was caught this week with their hand in the cookie jar.
Exelon, the only company ever kicked out of the American Wind Energy Association and the company single-handedly preventing a fix to Illinois’ broken RPS claims the near zeroing-out RPS funding in their multi-billion dollar bailout bill was a two-page “drafting error.”
Crain’s exposed this latest outrage: Oops! Exelon’s compromise energy bill nearly zeroes out green-power funding.
Other lowlights from the Exelon bailout bill?
- Permanent Nuclear Subsidy – Continues for the “useful life of the plant.”
- Subsidy in Advance – Exelon gets their subsidy a year in advance by projecting revenues and costs.
- Windfall Profits – if energy prices go up, Exelon keeps the windfall profits.
- ComEd Gets Back in the Generation Biz – breaks 1997 deregulation agreement preventing ComEd from owning generation.
- Demand Charge Rate Hike – First in nation “demand charge” will raise rates for nearly ½ of ComEd customers.
- Energy Efficiency – ComEd to earn first-ever guaranteed profits on efficiency programs.
ENOUGH IS ENOUGH.
JUST SAY NO TO THE EXELON BAILOUT.
BEST Coalition is a 501C4 nonprofit group of dozens of business, consumer and government groups, as well as large and small businesses. Visit www.noexelonbailout.com.