How Activists Killed a $6.9 Billion Utility Acquisition

Energy Gang

Wood Mackenzie

Tech News, Environment, Sustainability, Innovation, Renewable Energy, Technology, Alternative Energy, Energy, News, Cleantech, Wind Energy, Business, Climate Change, Solar Energy

4.6 • 1.3K Ratings

🗓️ 28 August 2015

⏱️ 52 minutes

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Summary

Until this week, most people thought Exelon's planned $6.9 billion acquisition of Pepco was a sure bet. But in a blow to both companies, regulators in the District of Columbia rejected the deal.What happened? The story is not just about a business deal gone awry. It’s a story about local empowerment, how utilities are dealing with the dramatic swing in America’s electricity market, and the tough decisions regulators are grappling with as they consider how to promote a cleaner grid. We will talk to Anya Schoolman, an organizer in DC who opposed the deal, about how a group of citizens derailed one of the largest utility acquisitions in history. Later in the show, we'll examine how recent turmoil in the financial markets may impact energy markets. And we'll finish with a discussion of President Obama's latest announcement on PACE and loan guarantees. This podcast is sponsored by ReneSola, a Tier 1 solar cell and module manufacturer with a decade of experience in the cleantech industry. The Energy Gang is produced by Greentechmedia.com. The show features weekly discussions between energy futurist Jigar Shah, energy policy expert Katherine Hamilton and Greentech Media Editor Stephen Lacey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	The Energy Gang is brought to you by Rennesola America, a tier 1 solar module producer and LED light manufacturer with a decade of experience in the clean tech industry.
0:10.0	Rennesola is your complete procurement provider of clean energy solutions.
0:15.0	The company has a proven track record of being a partner for project developers looking to maximize their return on investments.
0:21.0	Call 415852. return on at Renaissance
0:34.4	dot US. For the week of August 28, 2015,
0:39.3	this is the Energy Gang from Green Tech Media. Hello, welcome to the show.
0:47.0	I am Stephen Lacy, a senior editor with Green Tech Media in Washington, D.C.
0:54.3	In this edition, D.C. regulators denied Exelon's bid to acquire the distribution utility
0:59.4	PEPCO. The deal would have made Exelon the largest holder of utilities in the U.S.
1:04.0	We will talk to one of the local organizers who oppose the deal
1:07.0	and hear about why the story illustrates the dramatic changes underway in the electricity sector.
1:12.0	Then we'll try our best to
1:13.9	understand how turmoil in China and in stock markets around the world intersect
1:17.8	with energy markets. And in our last segment we'll talk about yet another big
1:22.0	announcement on renewables from the Obama administration.
1:25.0	I could try, but I would probably fail to talk about these subjects alone, so who better than Catherine Hamilton and Jiggershaw to help me and you
1:35.2	digest all the week's news? Catherine is in an undisclosed location in the woods of
1:39.9	the Adirondacks nicely breaking up her vacation coming back to reality for an hour to talk to us.
1:47.5	She's a partner with 38 North Solutions.
1:49.4	How is life away from DC?
1:51.4	It's great and thanks to Hughes Net satellite on our wood shed.
1:55.0	Newly installed, I'm able to bring the podcast to you from our lake cabin.
	...

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