UPDATE: Exelon, Pepco File for Reconsideration of Their Merger

Pepco Holdings Inc.

and Exelon Corporation

today have filed a petition for reconsideration of their merger with the Public Service Commission of the District of Columbia. The companies are working with the District of Columbia government to reach a settlement agreement. "We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it," said Chris Crane, president and CEO of Exelon. "Since the Public Service Commission explained why it didn't approve the merger last month, we've worked to learn what's most important to the District – and we are responding." The District of Columbia government today issued a statement confirming