Landing, N.J. (Dec. 5, 2016) –
Atlantic City Electric and Exelon executives joined New Jersey Gov. Chris
Christie today to announce an additional $56 million in benefits from the Pepco
Holdings Inc. merger with Exelon in March 2016.
The additional benefits, recently approved by the New Jersey Board of
Public Utilities (NJ BPU), bring the total benefits to customers and the state
to $126 million.
expanded benefits include more funds to support energy efficiency programs to
help New Jersey customers save money, workforce development initiatives to fund
or expand job training, and additional assistance to help residents in need pay
their utility bills.
this merger, we have combined the best customer and operational practices in
the utility industry,” said Chris Crane, Exelon president and CEO. “We are able
to offer customers and the communities we serve more reliable energy delivery,
innovative programs and bill savings. We
are also pleased to partner with workforce development and community agencies
in the economic development of southern New Jersey.”
modern, efficient energy grid that is affordable for all of our businesses and
residents is an essential ingredient to a strong and growing economy in New
Jersey,” said Gov. Christie. “Through their merger, Exelon and Atlantic City
Electric are delivering on their commitment to invest in our people and
communities so that we can continue making progress.”
new benefits will have a positive impact on individual families, as well as communities
and the local economy,” said Dave Velazquez, Pepco Holdings president and CEO.
“As part of the Exelon family, Atlantic City Electric is stronger and better
equipped to power the communities it serves with reliable, affordable and
part of the merger approval, the order of the NJ BPU provided that Exelon would
increase the value of the state’s merger benefits to make them commensurate
with other jurisdictions that approved the merger after New Jersey.
additional benefits include:
addition to the new benefits approved October 31, 2016, ACE customers are
already experiencing benefits from the merger, including new and higher
standards for reliability, $62 million in customer bill credits for all
Atlantic City Electric customers and more than $500,000 in charitable giving to
information is available at www.PHItomorrow.com.