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Pepco-Exelon Merger Provides $25M to Montgomery, Prince George’s Counties

Pepco and Exelon announced this week that they have provided $25 million to Maryland’s Montgomery and Prince George’s counties to support workforce development, job creation, energy efficiency and sustainability programs.

The funds will also help stimulate public and private investment in community solar, electricity storage, microgrids, water conservation in buildings, clean transportation and similar emerging energy technologies.

“We’re investing in our community to create jobs and develop skilled workers to fill them,” said Dave Velazquez, president and CEO of Pepco Holdings. “From an energy and environmental perspective, these programs will help lay the groundwork for a more sustainable future.”

Prince Georges County Executive Rushern Baker, whose administration negotiated the Pepco-Exelon merger, expressed satisfaction that Prince George’s County residents have already seen benefits from the agreement.

“I want to commend Exelon and Pepco for partnering with us on initiatives to provide energy assistance to our most vulnerable residents, promote job creation, retrofit many of our commercial properties to ensure their competitiveness and accelerate a green economy that will reduce carbon emissions and create more sustainable communities,” Baker said. “I’m particularly pleased that these funds will help bring these benefits to all areas of the county, including those identified by my Transforming Neighborhoods Initiative.”

Montgomery County Manager Isiah Leggett said the funds will help meet sustainability objectives.

“We know that energy technology is rapidly evolving, and the threat of climate change requires that we seek new ways to produce and deliver energy,” Leggett said. “We must continue to work in partnership with our utility to find ways to promote investment in clean energy and other innovative technologies. These funds will help us move forward collaboratively in achieving those goals.”

The funding, which is based on the number of customers in each county, will be allocated as follows:

• $10.6 million for energy efficiency. This includes $4.4 million to Prince George’s County, the first of three annual installments totaling $13.2 million, and $6.1 million to Montgomery County, the first of three annual installments totaling $18.3 million.

• $14.4 million for a Green Sustainability Fund to stimulate public and private investment in sustainability projects. This includes $6 million to Prince George’s County and $8.4 million to Montgomery County.

• $735,000 for workforce development. This includes $310,000 to Prince George’s County, the first of four annual installments totaling $1.24 million, and $425,000 to Montgomery County, the first of four annual installments totaling $1.7 million.

While Pepco’s benefits in D.C. include bill credits for residential customers, a fund to provide rate relief, 100 new jobs, improved solar access and investments in energy efficiency, Maryland’s residential customers have already received the first of two $50 bill credits and the company has forgiven past-due amounts more than two years old for Maryland residential customers.

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