Exelon (
NASDAQ:EXC) and Pepco Holdings (
POM) say they have reached a settlement with staff of the New Jersey Board of Public Utilities approving the
$6.8B merger of the two companies.
The settlement, which still requires the approval of the BPU's commissioners, would provide $62M in bill credits for Atlantic City Electric customers, an energy efficiency program, and commitments to improve the utility's reliability performance.
The proposed merger requires approvals of regulators in Delaware, Maryland and D.C.; the FERC and Virginia regulators already have approved it.