Having just completed a $6.8 billion acquisition, Exelon CEO Chris Crane is as convinced as ever that consolidation is critical to electric power companies in the U.S. But he’s not in a hurry to make another deal.
“If you look at the last few (utility) deals since we announced ours, the premiums are getting very high. So you have to be very prudent and diligent about further acquisitions in this environment,” Crane said Monday. “So, we’ll just focus on what we have right now.”
What Crane has now is a new addition to Exelon, Pepco Holdings, which provides electricity to 2.2 million customers in Maryland, Delaware, New Jersey and the District of Columbia. (Read more)
