News Orleans Funeral Procession for Pepco Rate Hike

ADVISORY CONTACT: James Adams (202) 536-­‐7880 June 11, 2012 james.adams@thisisourdc.org

CUSTOMERS HOLD NEW ORLEANS STYLE FUNERAL FOR PEPCO RATE HIKE; CASKET DELIVERED TO PUBLIC SERVICE COMMISSION AT RATE HEARING

PEPCO Reports Huge Profits, Doubles CEO Compensation, as it asks for $42.5 million rate hike

WASHINGTON, D.C. – More than 100 D.C. residents will march with a jazz ensemble and casket as they conduct a New Orleans style funeral for Pepco’s $42.5 million dollar rate hike. Recession-­‐weary residents will also protest inside the hearing as Pepco threatens to cut power to hundreds of residents who didn’t have so-­‐called Smart Meters installed. Community members will call on the PSC to fine Pepco $2 million for its corporate irresponsibility and reject the $42.5 million rate hike proposal.

Pepco continues to cry poor while asking customers for millions more, meanwhile the company continues to award executives and board members with huge pay increases. Pepco’s CEO compensation was increased from $3.6 million dollars in 2010 to $7.2 million dollars in 2011. 1Pepco’s top executives received over $18 million in total compensation in 2011, an 84 percent increase over 2010.2 On May 18th, Pepco approved a 35 percent pay increase for its Board Members.3

Now, rated the nation’s second worst utility by the American Satisfaction Consumer Index, Pepco lavishly invests in a Madison Avenue PR campaign while asking cash-­‐strapped families to help pick up the tab.

WHAT: Bury Pepco Rate Hike Funeral and Hearing Protest
WHEN: Monday, June 11th, 2012
ITINERARY: Funeral procession leaves McPherson Square at 10:00 a.m., arriving at the D.C. Public Service Commission, 1333 H St., N.W. at 10:30 a.m. Other protesters will gather inside the hearing room at 9:30 a.m.

The meeting will be live streamed at http://www.dcpsc.org/media/media.asp Site contact: James Adams – 202.536.7880

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