ANNAPOLIS, Md., April 1 /PRNewswire-FirstCall/ -- Exelon Generation (NYSE:
EXC), a major electricity supplier to this region, expressed its extreme
disappointment that the Maryland Senate has voted to end electric choice for
homeowners and small businesses.
The vote came despite universal agreement that this legislative proposal will
not lower customer electricity bills.
"Unfortunately, the Senate has hastily decided that Maryland should return to
an inefficient and high cost monopoly model," said Jan Freeman, vice
president, Government Affairs for Exelon Generation.
"This bill includes yet another tax for Marylanders they can't afford or
tolerate. An energy tax - or the 'non-bypassable surcharge' - will be levied
on all ratepayers to pay for energy they may never even use.
"Under this proposal, you will see power plant cost overruns, gross
inefficiencies, and consumers who won't have a choice in the matter," he
added. "Giving government a mandate and blank check to charge consumers for
new construction without considering lower cost options is a recipe for
financial disaster."
Exelon Generation operates the Conowingo Hydroelectric Station in Darlington,
Md.
Exelon Corporation is one of the nation's largest electric utilities with
approximately $19 billion in annual revenues. The company has one of the
industry's largest portfolios of electricity generation capacity, with a
nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon
distributes electricity to approximately 5.4 million customers in northern
Illinois and southeastern Pennsylvania and natural gas to approximately
485,000 customers in the Philadelphia area. Exelon is headquartered in Chicago
and trades on the NYSE under the ticker EXC.
SOURCE Exelon Generation
Beth Archer, +1-215-219-2300, or Merrie Street, +1-610-755-1199, both of
Exelon Generation
