Under the terms of the agreement, the companies have pledged to provide the counties with bill credits, funding for energy-efficiency programs and renewables investments, low-income customer assistance and other provisions.
Exelon and Pepco will allocate around $94.4m in customer investment fund, of which $36.8m will be provided in bill credits and $57.6m will utilized to fund energy-efficiency programs in the regions.
The companies have also agreed to provide $50m in Green Sustainability Fund to stimulate investment in solar, energy storage and other distributed generation throughout the Pepco service territory.
The funds will be available to qualified borrowers including organizations targeting low- and moderate-income residents in Pepco Holdings’ Delmarva Power, Pepco and Atlantic City Electric territories.
The settlement is subject to approval from Maryland Public Service Commission.
Exelon announced the acquisition of Pepco for $6.83bn last year, to create a large electric and gas utility in the Mid-Atlantic region.
