Pepco : Exelon Update District of Columbia Leaders On Merger Benefits

WASHINGTON DC (July 13, 2016) - Exelon and Pepco Holdings executives appeared before the Council of the District of Columbia today to update District leaders on the millions of dollars in benefits delivered to District residents in the first 100 days since the completion of the merger.

At the hearing of the Business, Consumer and Regulatory Affairs Committee, chaired by Councilmember Vincent Orange, Exelon and Pepco Holdings executives spoke of the companies' enhanced commitment to solar and other forms of clean energy, customer bill credits, improved reliability and charitable giving.

'Today, as promised, Pepco is a stronger, better resourced, and more forward-looking utility because of the merger with Exelon,' said Dave Velazquez, president and CEO, Pepco Holdings. 'Our customers in the District of Columbia have already begun to benefit through bill credits, faster and easier solar installation and through our new ability to share resources across all of the Exelon utilities responding more quickly to storms and outages.'

'Together as one company, we are playing a vital role as a leader in our industry and in the District, providing important economic, community and customer service benefits to Pepco customers,' said Chris Crane, president and CEO, Exelon. 'Our focus remains on operational excellence, environmental sustainability, customer service and support for the communities we serve.'

Merger benefits delivered to District customers in the last three months include:

• Affordability assistance, including $14 million for a one-time direct bill credit - $54.59 per residential customer in the District and $25 million set aside to absorb rate increases
• One-time elimination of residential customer unpaid bills more than two years past due
• Faster and easier solar installations

During the next 10 years, the merger will also deliver $51 million in savings that will be passed on to District customers through rates lower than they would be without the merger, and more than $8 million per year, every year thereafter.

Other forthcoming merger benefits for the District of Columbia include:

• Higher reliability performance, with fewer and shorter power outages for customers, with significant financial penalties if the goals are not met.
• $19 million in contributions over 10 years to nonprofit organizations that serve District residents
• $11.25 million for energy efficiency programs, with an emphasis on low-income households
• More than $5 million for District workforce development programs
• Development of 7 megawatts of solar energy in the District
• $5 million in loans for development of renewable energy
• $21.55 million directed to electric grid modernization projects
• Our ongoing promise to deliver workforce and supplier diversity.

The full text of the prepared testimony, along with other information, is available at www.PHItomorrow.com