Maryland Attorney General Brian E. Frosh issued the following statement in response to the 3-2 vote by the Maryland Public Service Commission (MPSC) to approve the Exelon-Pepco Holdings Inc. merger:
“Today is a bad day for consumers, and a great day for monopolies. This merger — which the PSC approved by the slimmest of margins — would create a company controlling service to 80 percent of Maryland’s electric consumers, with the incentive and ability to stifle competition and suppress innovation. Ratepayers will be paying the nearly $1 billion price-tag for improving electric system reliability for decades to come. While a narrow majority of the commission ignored these concerns, the risks and dangers were well-recognized by the two commissioners who wrote a detailed 52-page dissent. The Office of the Attorney General, which offered substantial evidence on the nature and scope of these harms, is deeply troubled by this decision and is exploring all options to protect the interests of Maryland consumers.”