Mega Merger Means Refunds For Some South Jersey Electricity Users

By David Madden

MAYS LANDING, NJ (CBS) -- If you're a customer of Atlantic City Electric, you're in for quite a surprise when you get your next bill.

Five hundred and fifty thousand ratepayers are getting a credit that could cover, say, dinner and a movie.

Or perhaps a month or more of service.

The utility's parent company, Pepco Holdings Incorporated, has merged with Exelon. The regulatory approval process took about two years. But as a result, Exelon is paying out some $62 million in refunds to Atlantic City Electric customers, at the rate of $113.16 each.

"They will see a credit for the amount on their next bill," utility spokeswoman Lendel Jones told KYW Newsradio. "Depending on the billing cycle for the customer, they'll start seeing it as early as this week."

Ratepayers on a budget plan will also get the credit.

Jones says customer service agents have been trained to deal with people who call in to ask if the credit is some kind of mistake.

As a result of the merger, Exelon is now the nation's largest utility company, with PECO and Delmarva Power among the entities in their control. The company, based in Chicago, serves some 8.5 million customers.