Exelon Corp said it would purchase Pepco Holdings Inc for $6.83 billion, helping it overtake Duke Energy Corp as the biggest power distribution company in the United States.The deal will allow Exelon to sell more power at stable rates set by regulators at a time when an abundance of cheap natural gas is dragging down power prices in the open market.Exelon's move to reduce its exposure to the vagaries of the wholesale power market comes as U.S. utilities struggle with falling electricity demand in both the open and regulated markets due to increased energy efficiency and a weak economy.However, Exelon's stock fell as much as 5 percent to $34.22.
Duke Energy Corporation (Duke Energy) is an energy company. Shares of DUK fell by 0.05% or $-0.04/share to $74.49. In the past year, the shares have traded as low as $64.16 and as high as $75.46. On average, 3160090 shares of DUK exchange hands on a given day and today's volume is recorded at 3001710.
Pepco Holdings, Inc. (PHI) is a holding company, that, through regulated public utility subsidiaries, is engaged primarily in the transmission, distribution and default supply of electricity and the distribution and supply of natural gas (Power Delivery): Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE). Shares of POM traded higher by 17.42% or $3.97/share to $26.76. In the past year, the shares have traded as low as $18.04 and as high as $23.25. On average, 2466240 shares of POM exchange hands on a given day and today's volume is recorded at 74559768.
Source
