Wed, Oct. 8, 4:57 PM
- Pepco (NYSE:POM) is one step closer to its $6.8B merger with Exelon (NYSE:EXC) after winning approval from the Virginia State Corporation Commission.
- The deal required approval by state regulators because Pepco and Delmarva Power utilities previously served distribution customers in Virginia and still own a small amount of transmission infrastructure in the state.
- The proposed merger still needs approval from the FERC and state regulators in Delaware, Maryland, New Jersey and D.C.
Fri, Aug. 1, 7:18 AM
Thu, Jul. 24, 3:11 PM
Fri, May. 16, 5:03 AM
- The White House is considering forcing power plants to cut carbon emissions by 25% over a 15-year period, Bloomberg reports.
- The problem is that owners can only cut so much of a facility's emissions by increasing efficiency, so a lot of the reduction could have to come by "going outside the fence," such as by deepening the use of renewable energy, improving grid efficiency and encouraging customers to use less electricity.
- Trying to compel operators to rely on such external measures could run afoul of what the government is allowed to do under the Clean Air Act.
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- Utilities: ED, POM, PEG, FE, NST, UTL, ETR, EXC, D, NU, PCG, DUK
Wed, May. 7, 7:11 AM
Tue, May. 6, 5:30 PM
- AGN, ALE, AOL, ARIA, ARQL, ATRO, AVA, AYR, BAM, BUD, CHK, CLH, COT, CTSH, DUK, DVN, DWSN, DX, EE, ENB, END, FWLT, GTIV, GWPH, HNT, HTZ, HUM, INXN, KELYA, KING, LAMR, LGND, LINC, LMIA, MDLZ, MEMP, MZOR, NAVB, NJR, NTLS, NVDQ, POM, PRGO, QRE, RIGL, ROC, SBGI, SE, SEP, SFUN, SNSS, SPAR, SPB, STRA, SUSP, SUSS, TAP, THI, TLM, TMHC, TPC, TRGT, USAC, VOYA, VSI, WBAI, WPX, WRES, XEC.
Wed, Apr. 30, 2:20 PM
- Exelon's (EXC -4.1%) $6.8B purchase of Pepco (POM +17.3%) helps it overtake Duke Energy (DUK) as the biggest U.S. power distribution company, but investors and analysts aren't enamored with the deal.
- Wells Fargo's Neil Kalton question EXC's wisdom in increasing the company's regulated exposure at a time when power markets appear to be recovering.
- EXC is effectively reducing its relative exposure to wholesale generation, whose share of profits will dip to 35%-40% as a result of taking on POM's regulated assets, and it's paying 22x 2014 estimated earnings to do so, WSJ's Liam Denning calculates.
- Oh, by the way: The deal "smells bad," FMHR trader Jon Najarian says on CNBC, pointing to unusual options activity ahead of the announcement.
Wed, Apr. 30, 12:46 PM
Wed, Apr. 30, 9:11 AM
Wed, Apr. 30, 6:17 AM
- The all-cash deal represents a 29.5% premium to the average price of Pepco Holdings (POM) over the last twenty trading days, and the acquisition is expected to be significantly accretive to Exelon's (EXC) adjusted earnings in the first full year after closing.
- POM +5% premarket to $23.93.
- Press release
Thu, Apr. 24, 3:50 PM
Fri, Feb. 28, 7:04 AM| Comment!
Fri, Feb. 28, 12:05 AM
Thu, Feb. 27, 5:30 PM
Mon, Jan. 27, 12:55 PM
- Pepco Holdings (POM +1.4%) says Chairman/CEO Joseph Rigby plans to step down as CEO near the end of this year after a successor is named and stay on as chairman until next year’s annual shareholders meeting to assist in the transition.
- Rigby expects to retire from the power company in H1 2015, concluding a 35-year career.
Thu, Jan. 23, 4:30 PM
POM vs. ETF Alternatives
Pepco Holdings, Inc. is an energy company that, through its operating subsidiaries, is engaged in two principal business operations : electricity and natural gas delivery; and energy generation, marketing and supply.
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