New Jersey has tentatively approved Exelon’s merger with Maryland based energy company Pepco, which includes the acquisition of Atlantic City Electric. If Maryland, Delaware and the District of Columbia approve as well, New Jersey will have only one electric utility based within the state. The proposal met with strong opposition within New Jersey with people claiming that the $62 million in customer credits that the New Jersey customers would receive is fleeting and that there is no guarantee that rates will not increase and cost customers more than the $115 credit that they receive. Another point that was made is that there is no limitation placed on post-transition costs for customers. Exelon CEO Chris Crane said, “Our combined company will bring significant benefits to New Jersey and ACE customers,” though specifications were made to these benefits.
Full Content: NJ Spotlight
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Allows FTC Antitrust Case Against Amazon to Move Forward
Oct 1, 2024 by
CPI
SAP Leader Urges Caution on EU AI Rules, Warns of Competitive Disadvantage
Oct 1, 2024 by
CPI
Colorado’s Grocery Workers Unite to Oppose $24.6 Billion Supermarket Merge
Oct 1, 2024 by
CPI
Canada’s Competition Bureau Warns Businesses of Tougher Enforcement
Oct 1, 2024 by
CPI
Top Antitrust Lawyers Launch New Boutique Firm
Oct 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh