District regulators approved a $6.8 billion merger between Pepco Holdings and Exelon on Wednesday, creating the largest publicly held utility in the country.
The decision marked a surprising turn of events for the deal, which D.C. regulators had rejected twice and which appeared to be on life support in recent weeks as D.C. Mayor Muriel E. Bowser (D) and other city leaders lined up in opposition.
The merger means that Pepco will be absorbed by a company with the largest number of nuclear reactors in the country and widespread operations throughout the Mid-Atlantic, Midwest and New England.
The sale affects about 2 million Mid-Atlantic electric customers who are served by Pepco Holdings, including more than 815,000 ratepayers in the District and in Prince George’s and Montgomery counties.