WASHINGTON, D.C. (Oct. 8, 2014) - More than 150 minority- and women-owned business leaders joined an event yesterday to learn more about Exelon's strategy to increase its spending with diverse suppliers. Exelon announced plans in April to merge with Pepco Holdings Inc. (PHI), the parent company of D.C. utility Pepco.
Hosted by The Presidents' RoundTable, Inc. and the Capital Region Minority Supplier Development Council, the event gave members access to Exelon and PHI leaders, and outlined how the companies will work with diverse businesses across the region. A panel of Exelon senior executives also discussed Exelon's plans to grow in this area, as well as strategies for how minority- and women-owned businesses can do business with the company.
"Exelon shares and will continue to support PHI's commitment to working with diverse businesses in the nation's capital," said M. Bridget Reidy, senior vice president and chief supply officer of Exelon. "Minority- and women-owned business leaders are an important part of the growing D.C. economy, and we welcomed this chance to discuss the opportunities our merger could present to them."
In 2013, Exelon spent $906 million with certified diverse suppliers, and PHI's Pepco utility spent $80 million on diverse supplier procurement, both increasing diverse spending over the previous year.
The combination of the companies will bring together Exelon's three electric and gas utilities - BGE, ComEd and PECO - and Pepco Holdings' (PHI's) three electric and gas utilities - Atlantic City Electric, Delmarva Power and Pepco - to create the leading mid-Atlantic electric and gas utility. The companies anticipate completing the merger in the second or third quarter of 2015.