Exelon Says Continues Working To Complete Exelon - Pepco Holdings Merger

(RTTNews) - Responding to the Public Service Commission of the District of Columbia's rejection of proposed Exelon - Pepco Holdings merger deal, Exelon Corp. (EXC) said Monday that the companies believes their merger proposal is in the public interest, and will continue working to complete the merger, which all other jurisdictions have approved.

Not completing merger would deny customers in the District of Columbia - as well as Delaware, Maryland and New Jersey - hundreds of millions of dollars in direct financial benefits, improved reliability and storm response, renewable energy projects, and commitments that will preserve their local utility's role as a strong community partner and contributor to economic growth. It wants to deliver these benefits to customers and will strive to make that happen, Exelon said in a statement.

Exelon noted that the companies remain convinced the decision fails to recognize the substantial immediate and long-term benefits of their merger proposal to citizens, businesses and communities in the District of Columbia.

Last week, Regulatory agency The Public Service Commission of the District of Columbia on Tuesday rejected utility company Exelon Corp (EXC)'s $6.8 billion acquisition bid for Pepco Holdings Inc (POM).

The Public Service Commission of the District of Columbia's approval was the last nod required for the companies to close the deal.

The companies will have 30 days to ask for the commission to reconsider its decision.