Atlantic City Electric customers and New Jersey will receive $56 million more in benefits from Exelon Corp. under a deal that required Exelon to match its offer to other states that approved its merger this year with Pepco Holdings Inc.
The deal, announced Monday by Exelon and Gov. Christie, will bring the total benefits to New Jersey to $126 million. The expanded benefits include more funds to support energy efficiency programs, workforce development initiatives to fund or expand job training, and additional bill assistance for low-income customers.
Exelon in March closed its $6.8 billion merger with Pepco, absorbing Atlantic City Electric, Delmarva Power and Pepco into the nation's largest utility. The merger required approval of state regulators in New Jersey, Delaware, Maryland and the District of Columbia.