Exelon-Pepco Merger Gets Green Light From Virginia State Corporation Commission

PowerPlantExelon Corp. and Pepco Holdings have received approval from the Virginia State Corporation Commission to move forward on the the companies’ proposed $7 billion merger agreement they announced in April.

Pepco Holdings owns transmission infrastructure in Virginia and previously offered power to distribution customers in Virginia through the Delmarva Power and Pepco utilities, Exelon and Pepco said Tuesday.

The energy providers said they are waiting for decisions from the Federal Energy Regulatory Commission, Delaware Public Service Commission, Public Service Commission of the District of Columbia, New Jersey Board of Public Utilities and Maryland Public Service Commission.

Pepco Holdings shareholders approved the transaction Sept. 23 and both companies expect to wrap up the deal in either the second or third quarter of 2015.

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