State receives money from Pepco-Exelon merger

349px-Seal_of_DelawareDOVER — The Delaware Public Service Commission has approved benefits from the merger of Pepco Holdings Inc. and the Exelon Corporation.

Pepco owns Delmarva Power, which will remain a separate company with its headquarters in Newark.

As a result of the Washington D.C. Public Service Commission approving the merger of the two companies earlier this year, Delaware was allocated $27.1 million. On Tuesday, state officials approved a spending plan for the sum. The allocation is as follows:

• Department of Natural Resources and Environmental Control energy efficiency for large commercial and industrial — $8.0 million

• Department of Natural Resources and Environmental Control Energy Efficiency Investment Fund — $4.0 million

• Delmarva Power energy efficiency low income — $2.0 million

• Delaware Economic Development Office economic development — $6.0 million

• Arrearage management plan — $3.1 million

The remaining $4 million was placed on hold until more information is obtained. It had been proposed to be used for public projects, but members of the Delaware Public Service Commission believed additional details were needed as to how projects would be chosen.

In addition to the $27.1 million, Exelon will provide help to the state in several areas. The company will offer $3 million for any agency focusing on renewable power. It will also assist in the development of five megawatts of renewable generation and will consider one micro-grid project in the state.

“I am pleased that we were able to allocate these additional benefits to the advantage of all Delaware citizens and look forward to seeing great results from these projects,” Public Service Commission Chairman Dallas Winslow said in a statement.

Details on the merger settlement can be found by searching for Docket No. 14-193 in the Delafile e-filing system at<>.

Facebook Comment