The acquisition was completed on August 1, 2002, at which time Pepco and Conectiv became wholly owned subsidiaries of PHI.

[4] The company experienced a doubling of operating profit in 2011, in part due to approved utility rate increases in the states of Delaware, Maryland, and New Jersey along with Washington, D.C.[4] Exelon announced the proposed purchase of Pepco Holdings, Inc on April 30, 2014.

The merger was rejected by the District of Columbia Public Service Commission in August 2015, though it was approved by other federal and state regulators.

On March 23, 2016, the merger with Exelon was approved by the District of Columbia Public Service Commission, under a revised set of terms.

[6] In 2006, Pepco Holdings restated its previously reported consolidated financial statements for the three and six months ended June 30, 2005, to correct the accounting for certain deferred compensation arrangements.