Saying that the revised Exelon-PSEG merger mitigation proposal falls short in several critical areas, PPL Corporation strongly urged the Federal Energy Regulatory Commission Friday (5/27) to hold a full hearing on the matter.

"Despite this highly extraordinary and potentially anti-competitive transaction," PPL said in a filing Friday, "the applicants are asking the commission to approve it summarily without the benefit of hearings."

Among the points PPL makes in its FERC filing are:

·        "Virtual" divestiture is not divestiture at all and leaves the applicants with the incentive and ability to exercise market power.

·        The failure to properly allocate power imports using Firm Transmission Rights understates significantly the degree of market concentration actually caused by the merger.

·        Exelon and PSEG still fail to consider proper geographic markets and refuse to apply logical or realistic energy prices in their analysis.

"The factual issues surrounding this merger are material, hotly disputed and critical to the commission's determination of whether the merger is ‘consistent with the public interest,'" PPL said in its filing, noting that these issues require full discovery and a full commission hearing.

Click to view the filing:

FERC Filing-1

FERC Filing-2