Exelon to buy Pepco, forming biggest U.S. utility

05/5/2014 | Greentech Media

Exelon has agreed to buy Pepco Holdings for $6.8 billion in cash, putting together what would be the largest U.S. utility, with a total of about 10 million customers. Duke Energy, after its 2012 merger with Progress Energy, has some 7 million customers. "This acquisition supports an integrated utility model with a balanced mix of regulated and non-regulated cash flows," Exelon CEO Chris Crane told analysts. The transaction, expected to close next year, requires approval from the Federal Energy Regulatory Commission, antitrust regulators and public service commissions in the states that Pepco utilities serve.

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