AG Frosh Statement on Exelon-Pepco Holdings Merger

(Baltimore, MD May 15, 2015) Maryland Attorney General Brian E. Frosh issued the
following statement in response to the 3-2 vote by the Maryland Public Service Commission to
approve the Exelon-Pepco Holdings Inc. merger:
Today is a bad day for consumers, and a great day for monopolies. This merger -- which
the PSC approved by the slimmest of margins -- would create a company controlling
service to 80 percent of Marylands electric consumers, with the incentive and ability to
stifle competition and suppress innovation. Ratepayers will be paying the nearly $1
billion price-tag for improving electric system reliability for decades to come. While a
narrow majority of the commission ignored these concerns, the risks and dangers were
well-recognized by the two commissioners who wrote a detailed 52-page dissent. The
Office of the Attorney General, which offered substantial evidence on the nature and
scope of these harms, is deeply troubled by this decision and is exploring all options to
protect the interests of Maryland consumers.
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