Chicago Tribune

Groups Fight Exelon Deal

The Chicago Tribune — Saturday, March 26, 2005

By Robert Manor
Tribune staff, wire reports

Exelon Corp.'s proposed $12.8 billion purchase of Public Service Enterprise Group Inc., owner of New Jersey's largest utility, would give the company too much control of the region's power market, consumer groups said. New Jersey Public Interest Research Group, New Jersey Citizen Action and Public Citizen plan filings with state and federal utility regulators Monday that oppose the combination. They contend Chicago-based Exelon would own enough power plants to inhibit competition and drive up prices, said Suzanne Leta, a spokeswoman for the public interest research group.

Exelon, owner of Philadelphia's utility, has offered to sell coal-, gas- and oil-fired plants that can generate 2,900 megawatts of power and place 2,600 megawatts of nuclear generation under long-term contracts. The offer aims to satisfy Federal Energy Regulatory Commission restrictions on how much generation a single company owns in one region.

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