PECO Parent Company Is Getting Bigger
Philadelphia Business Journal reports that PECO — the prime electricity supplier in Philadelphia — is about to become part of a much larger conglomerate. Parent company Exelon is buying Pepco Holdings for $6.8 billion to create the “the largest electric and natural gas utility in the Mid-Atlantic region.”
The deal combines PECO, as well as Exelon’s other top-performing electric and gas utilities (BGE and ComEd) with Pepco Holdings’ electric and gas utilities – Atlantic City Electric, Delmarva Power and Pepco. The combined utility will serve approximately 10 million customers and have a rate base of approximately $26 billion.
The deal should close in third quarter of 2015.