D.C. Commission, in Surprise 2-1 Reversal, Approves Pepco-Exelon Merger

first_imgD.C. Commission, in Surprise 2-1 Reversal, Approves Pepco-Exelon Merger FacebookTwitterLinkedInEmailPrint分享Thomas Heath and Aaron C. Davis for the Washington Post:District regulators approved a $6.8 billion merger between Pepco Holdings and Exelon on Wednesday, creating the largest publicly held utility in the country.The decision marked a surprising turn of events for the deal, which D.C. regulators had rejected twice and which appeared to be on life support in recent weeks as D.C. Mayor Muriel E. Bowser (D) and other city leaders lined up in opposition.The merger means that Pepco will be absorbed by a company with the largest number of nuclear reactors in the country and widespread operations throughout the Mid-Atlantic, Midwest and New England.The sale affects about 2 million Mid-Atlantic electric customers who are served by Pepco Holdings, including more than 815,000 ratepayers in the District and in Prince George’s and Montgomery counties.And it is widely expected that those customers will see higher electric rates — possibly as soon as this summer — as has happened in Baltimore and other cities after Exelon acquired energy distributors. Pepco has not sought annual rate increases since 2014, when Exelon first proposed its takeover of Pepco, despite having made capital improvements.Neither Pepco nor Exelon claimed victory after the vote, in part because stakeholders can seek a stay on the order’s implementation.The utilities wasted no time in completing the merger, announcing late Wednesday afternoon that both sides had completed and filed the paperwork. Pepco stock would cease to exist as of Thursday, with shareholders receiving $27.25 per share.“Today, we join together as one company to play a vital role as a leader in our industry and the mid-Atlantic region,” Chris Crane, Exelon’s chief executive, said in a statement.Joseph M. Rigby, previously chairman, president and chief executive of Pepco Holdings, officially retired Wednesday. He was replaced by David M. Velazquez.Bowser and other officials did not say whether they will try to squash the merger. In a statement, the mayor said residents should brace for higher electric bills. “It appears the Public Service Commission favors government and commercial ratepayers over DC residents,” the mayor wrote. “Instead of a three year rate increase reprieve that we negotiated, it appears that DC residents will be hit with a rate increase as soon as this summer.”Anya Schoolman, head of the nonprofit group Community Power Network and an opponent of the deal, said she was “shocked” by the reversal.Power DC, an umbrella group of community organizations that opposed the merger, voted to fight on. “By approving the merger, the PSC has exposed our city to decades of higher rates, weakened its own ability to guide our city’s energy future, and helped ensure that DC will fall behind the rest of the US on clean, efficient energy,” the group said.D.C. Council member Mary M. Cheh (D-Ward 3), a fierce opponent of the merger, blasted the commission for the reversal.“What we’re doing here is fundamentally not in the public interest for the ratepayers or people of the District of Columbia,” she said. “I’ll tell you who the beneficiaries are, quite plainly: It’s Exelon and the shareholders of Pepco who get a big windfall out of this. Those are the people who won. . . . The rest of us, we lost.Full article: D.C. regulators green-light Pepco-Exelon merger, creating largest utility in the nationlast_img read more

Badgers ‘Jump Around’ wins best college sports tradition

first_imgThe Badgers’ “Jump Around” tradition has once again won the best college sports tradition.The tradition — familiar to anyone who knows about college football — won first in the Sirius XM College Sports Nation “Traditions Tournament.”The Badgers tradition narrowly beat Ohio State’s “Script Ohio” marching band formation. “Jump Around” got 52,729 votes, just above the 51,928 votes for Ohio State, a Big Ten Conference rival.On Sept. 6, Badgers fans will again “Jump Around” in Camp Randall at the first home game vs. Western Illinois.last_img read more

Is Zapata on his way out of AFC Leopards?

first_img“I am focused on the game now; we will talk about that after this game. But, even without me Leopards has a bright future because chairman has a good taste to choose young players who are good for the future. We need to talk, we need to build the program for the future to have clear ideas,” the tactician said during his team’s penultimate training session before the derby.According to various sources within the club, Zapata feels frustrated of interference from outside forces and he feels he needs more control of the team.Zapata is said to have told the club’s management that he will be leaving his position after the derby. Nonetheless, the tactician has said he will not dwell much on that until after the game, instead choosing to focus on the task at hand, beating their arch rivals.AFC has met Gor twice already this season, losing 1-0 in the season opening Kenyan premier League Charity Cup while their second meeting was on May 1 during the Hull City play-off match which they lost on penalties after a 0-0 draw.The tactician expects a tough game against the unbeaten Gor who have a healthy 13 point difference against their bitter rivals who are placed fifth in the standings.AFC Leopards players during the club’s training session at the St Paul’s University on July 20, 2018. Photo/Timothy Olobulu“It is going to be a very difficult game. Derbies all over the world are very difficult. I respect Gor Mahia and coach Dylan Kerr. He has a very good number of excellent players in his team and has so many options. This is going to be a very tactical game,” the tactician noted.He believes the fact that Gor have come off a tight list of fixtures over the last two weeks will not be a problem, especially having watched them dismantle Yanga 4-0 in Wednesday in the CAF Confederations Cup.Tactically, Zapata believes that the game will be won or lost in the midfield, saying his side must dominate that area of the pitch if they are to have any chance ot bagging the three points and bragging rights.But even as he plans to win the game from the middle of the pack, Zapata will be without two key ingredients in that particular area, skipper Duncan Otieno missing as he has been suspended after picking five yellow cards while Brian Marita is out injured.The tactician will also miss the services of defender Robinson Kamura and new Nigerian import Alex Orotomal both who are also out injured.AFC Leopards strikers Eugene Mukangula and Ray Omondi during the club’s training session at the St Paul’s University on July 20, 2018. Photo/Timothy Olobulu“They are important players in the team and we will miss them but this should not be an excuse. We have a lot of great talented players and they are going to show they are equally good on the pitch,” the coach said.In the absence of Kamura in defense, Zapata will look on to youngster Michael Kibwage who gathered minutes of playing time early in the season but found himself out of favor since the Argentine’s arrival.In midfield, Otieno’s absence will be sealed by Edward Seda who will partner Marvin Nabwire and Whyvonne Isuza.“If you play good football you have chances to win and that’s what we will do. We will need to do a lot of pressing in the middle and ensure when we are without the ball we get it back within five seconds, I have excellent players in midfield so we are going to fight,” the tactician added.AFC have lost 10 of their last 20 meetings with Gor Mahia across all competitions, winning only five and drawing a similar number.The two sides are having different seasons in the KPL with Gor Mahia coming into the game on the backdrop of five wins on the trot in the league while AFC have won only two of their last five.“In derbies it doesn’t matter the position on the table or form. It is 90 minutes and we will fight on the field to win for our supporters,” the defiant coach said.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000AFC Leopards head coach Rodolfo Zapata during the club’s training session at the St Paul’s University on July 20, 2018. Photo/Timothy OlobuluNAIROBI, Kenya, Jul 21- Just before they face arch rivals Gor Mahia FC in the highly anticipated Mashemeji Derby, AFC Leopards could be thinking of hiring a fourth coach in the span off less than a year with current boss Rodolfo Zapata hinting he might be thinking of his future already.The Argentine tactician who arrived at the den in June from Botswana’s Gaborone United has hinted that ‘AFC Leopards will be strong even without’ me even as he dodged questions on whether or not rumors of his supposed exit from the club are true.last_img read more