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March 27, 2015     Cape Gazette
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March 27, 2015

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S4 FRIDAY, MARCH 27- MONDAY, MARCH 30, 2015 BUSINESS & REAL ESTATE cape Gazette Exelon Corporation and Pepco Holdings Inc. announced they have reached a settlement agree- ment in the proceeding before the Delaware Public Service Commission to review the two companies' proposed merger, which was announced April 30, 2014. The settlement, which is subject to the approval of the commissioners of the PSC, was filed by Exelon and Pepco Holdings, Delmarva Power, and signed by PSC staff, the Delaware Public Advocate, the Department of Natural Resources and Envi- ronmental Control, the Delaware Sustainable Energy Utility, the Mid-Atlantic Renewable En- ergy Coalition, and the Clean Air Council. The merger will bring togeth- er Exelon's three electric and gas utilities - BGE, ComEd, and PECO - and Pepco Holdings' three electric and gas utilities - ACE, Delmarva Power, and Pepco - to create the leading mid- Atlantic electric and gas utility. "We are pleased to have reached this settlement agree- ment for our merger," said Chris Crane, Exelon president and CEO. "Our combined company will bring significant value to Delaware and to Delmarva cus- tomers." "This agreement is good for Delaware," said Gary Stock- bridge, Delmarva Power regional president. "By joining the Exelon family of utilities, Delmarva will be able to deliver substantial benefits to its customers and communities." The settlement agreement in- cludes more than $51 million in direct benefits, as well as other provisions that promote the pub- lic interest,-such as: More than $49 million over 10 years in direct, monthly rate credits for Delmarva electric and gas customers. In addition to the direct monthly rate credits, customers also will benefit from another $61.5 million in projected merger savings that will be re- flected in rates during the next 10 years and beyond. $2 million in funding by Exelon for energy efficiency programs for low-income cus- tomers and specific provisions to improve implementation of Dela- ware's energy efficiency efforts, including measures to ensure coordination among Delmarva Power, the Delaware Sustainable Energy Utility, the Department of Natural Resources and En- vironmental Control and other interested stakeholders. Commitment to a new mini- mum standard of reliability for customers by reducing the aver- age duration of outages standard to 175 minutes or shorter by 2020, while at the same time substan- tially reducing capital spending. The current minimum standard for the average duration of out- RYAN CLASS 302-236-9037 WWW.BAYSI DEHOM ESALES.COM DELAWAREMODU LARBEACH HOMES.COM POT-NETS LAKESIDE COLONIAL EAST SUSSEX WEST 26804 CASTAWAY CIRCLE - Spacious, well maintained home in Pot-Nets Lakeside, boasting a large and private lot. Quaint screened in porch for morning coffee and listening to nature, private back deck for grilling. Three bedrooms and a den, two full baths and a large kitchen with ample cabinet dust see! $74,900 5 COLONIAL LANE - Large double in Colonial East. New Heating and Air in 2012. Renovated the master and bath recently. Large storage shed. Community offers great location to restaurants, beaches and shopping. REDUCED TO $59,900 (MLS 610186) OPEN HOUSE EVERY SAT 11-4 [[ BAYSIDE HOMES 72 BRISTOL WAY - Large screened porch, well-maintained, bright K~tchen with skylight, 2 BR, 2 BA, quiet lot. Great location, close to shopping and all the fun restaurants and beaches. Sussex East is a great community with several amenities. New indoor pool under construction. $39,900 (MLS 613452) SUSSEX WEST - Take a look at our brand new models. 55+ community in Lewes. Local to everything. Call for showings outside of the day & time slot. Model Homes are Energy Star certified. 1 car garages, hundreds of plans to select from. Lots are going fast. Community offers pool, playground area and lawncare. NEW POOL UNDER CONSTRUCTION! ages is 295 minutes. $2 million in funding by Exelon for a workforce develop- ment program with Delaware State University, Delaware Tech- nical Community College, and other community-based orga- nizations such as the United Way and Boys & Girls Clubs specifically focused on energy efficiency, renewable energy, and science, technology, engineering and math education. Commitment to positively impact Delaware jobs by making a good faith effort to hire at least 83 union workers in Delaware and to protect compensation and benefits for current employees. Maintaining Delmarva's operational headquarters near Newark, and other key sites in Wilmington and Millsboro. Providing annual average charitable contributions and local community support that exceed Delmarva's 2013 contri- butions of $699,000 for 10 years after the merger, and continued support for supplier diversity and low-income assistance ef- forts. In addition to the Delaware PSC, the merger requires ap- provals by the Public Service Commission of the District of Columbia, and Maryland Public Service Commission. The com- panies expect to complete the merger in the second or third quarter of 2015. BAYSIDE HOMES LLC 18389 Olde Coach Dr., Suite 6, Rehoboth Beach 302-645-2030 47 LAKEWOOD DRIVE - New construction in Lochwood. 3 BR, 2 BA. Deck off sliding glass door, paved driveway. All appliances ready 2015. $215,000 (MLS 618872) Have land, looking for a beach home, replacing an older mobile? We have the largest selection of floorplans at the Beach for Manufactured and Modular Homes Singlewides, Doublewides, Ranch, Cape Cods, 2 Storys. With over 30 years of experience in Sussex County and the beaches. "Your mobile home specialist, call me today! I will work hard to find the home of your dreams." ,ok No F her S Has What You Need! Easter Flowers f More... Hyacinth ' Hydrangea ' Tulips Lillies, Pansies, Primrose Bedding Plants ' Shrubbery Cemetery Arrangements Potted Easter Baskets & Easter Decor Open Daily 8- 5, Sun. 8- 4 13034 Cedar Creek Road, Milton, DE 302-684-8092 LINDA BOVA Managing Broker 302-542-4197 (cell) ~"Associates BRIDGET BAUER Associate Broker 302-227-1222 (office) CAPTIVA SANDS - Rehoboth Beach.THE ARK - Rehoboth Beach. In-town 3BR/2.SBA split-level, penthouse-style just steps from the Boardwalk! Fabulous split-level, 2rid-floor condo in condo. Full cathedral ceilings in LV. Kit w/ elevator building. Off-street, assigned granite adjoins dining area. Screened porch parking. 1BR/1BA unit has large living overlooks pond. Master suite w/sitting room area w/remodeled kitchen featuring granite & pdvate bath upstairs. Other 2 bedrooms & stainless steel appliances. Balcony on main level have Jack-n-Jill bath. Powder overlooking The Avenue. Lower level is bedroom & remodeled bath. Stack W&D for all your beach towels. Turn Key! $304,900 room in hall. Custom closets. Bike to boardwalk. $319,500 (MLS#618278) (MLS#617025) SUMMERLYN - Lewes. 1,50Osq.ft.3BR/2BAVILLAGES OF MILLWOOD - Millsboro. 2nd-floor condo in elevator building. Beautiful 2BR/2BA 1st-floor condo features tile pond views from Master BR, Florida room, & floors in main living area & new carpet in balcony. Spacious living room features gas bedrooms. All new kitchen appliances.- fireplace. Large master suite includes "super Sliders from LV to oversized screen porch bath" w/soaking tub & separate shower. & adjoining covered patio so you can even Full laundry room. Breakfast bar kit adjoins BBQ in the rain. 20 miles to Rehoboth dining area. Tenant in place paying $13,800/ boardwalk. Excellent past rental history for yr + util, so ideal for investors. $214,900 investment Buyer. $88,900 (MLS#619416) (MLS#619901) MATLINDS ESTATES- Milford. 3BR/2BA BREEZEWOOD - Rehoboth Beach. on 3/4-acre corner lot. Home has Fla. 3BR/2BA rancher is just adorable inside w/ Room & VinylTech porch. LV w/vaulted bright, beachy color scheme. Dining room ceilings. Split BR plan. Backyard retreat adjoins kit for cozy indoor entertaining. features deck, paver patio, above- Screen porch, rear deck & big backyard ground pool, fencing & mature privacy are great for outdoor entertaining. Nicely landscaping. Garage has custom storage landscaped. Community playground area & including cedar-lined closets. 2 sheds, only 4 miles to boardwalk. Ideal for year- Low HOA fees. 20 miles to Reh Bch. round living or as vacation home. $269,000 $254,500 (MLS#619759) (MLS#620252) office 20250 COASTAL HIGHWAY, SUITE 3, REHOBOTH BEACH, DE 19971 302-227-1222 toll-free 1-877-SEA-BOVA, email []