N.J. Ratepayer Advocate Files Testimony On Proposed PSE&G- Exelon Merger

Newark, N.J.—The New Jersey Ratepayer Advocate, Seema M. Singh, yesterday filed additional testimony and recommendations with the presiding state Administrative Law Judge and the Board of Public Utilities (BPU) regarding the proposed merger of Public Service Electric and Gas Company (PSE&G) into Exelon Corp.

Yesterday’s comments by four expert witnesses complete the testimony of a total of nine consultants retained by the Ratepayer Advocate whose expertise is in accounting, finance, economics and related areas to assist the division in its review of the merger. The Ratepayer Advocate and its consultants focused their review of the merger in four key areas required by the statute: the impact on competition; the effect on the rates paid by ratepayers; the impact on the employees of the concerned utilities; and the effect on the provision of safe and adequate utility service at just and reasonable rates.

The Ratepayer Advocate conducted a careful review of the pending petition for the two companies, including discovery, depositions and interviews to ensure New Jersey ratepayers are fully protected. The Ratepayer Advocate continues to participate in public hearings scheduled throughout the state. Administrative Law Judge evidentiary hearings on the merger are scheduled for January 2006. The Administrative Law Judge will issue an initial decision and the BPU will make the final decision on whether the proposed merger should be approved.

For the filed comments of the Ratepayer Advocate on the merger, please go to the website at www.rpa.state.nj.us.

The Division of the Ratepayer Advocate is an independent state agency that represents the interests of consumers of electric, natural gas, water/sewer and telecommunications and cable TV service. It serves as an active participant in every proceeding whenever New Jersey companies seek changes in rates or services. The Ratepayer Advocate also gives consumers a voice in setting long-range energy, water, and telecommunications policy that will affect the delivery of services well into the future. Additional information on this and other matters can be found at the Division of Ratepayer Advocate’s website at http://www.rpa.state.nj.us

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