The impact of the proposed merger of Pepco Holdings, Inc., with Exelon Corporation, a Chicago-based energy provider, was the topic of discussion between Christopher M. Crane, President and CEO of Exelon, and Economic Club President Rubenstein. Mr. Crane said the purpose of the merger is to improve utility reliability through greater scale. He predicted that the merger will not be completed until the second or third quarter of 2015 due to the number of regulatory approvals required from various state and federal agencies. He also pledged that the combined company will continue to match Pepco’s substantial philanthropic support in the D.C. metropolitan region for at least 10 years for a total of about $50 million in charitable contributions.
To view additional highlights and excerpts from the event, please click here.