Merger triggers $50 credits for Delmarva customers
— Delmarva Power Company will be issuing two $50 credits to its 43,000 Cecil County customers as part of its merger with Exelon Corporation, a company
spokesman announced last week.
Pepco Holdings, Delmarva’s parent company, completed the merger transaction on March 23 creating a utility giant with Baltimore Gas and Electric and PECO among the companies now under the same corporate umbrella.
As part of the merger agreement, more than $17 million in credits will be given to customers in two installments. The first was issued immediately. The second will appear on another bill within the next 12 months.
“This is the beginning of many benefits resulting from our merger with Exelon,” said Gary Stockbridge, Delmarva Power region president, in a statement issued last week.
Other benefits, accord- ing to Stockbridge, include higher standards for service reliability, more than $1 million in workforce development, and $11.7 million in energy efficiency programs, especially targeting affordable multi-family housing.