Here is an excerpt of the most recent Pepco investor call. The question is from Maury May from Wellington Shields and was answered by PHI President Joe Rigby, The text is from Seeking Alpha.

Maury May – Wellington Shields

Okay. And then my second question is again on Maryland. And I guess I’m just trying to find some kind of silver lining here. But the date of the governor’s panel, when it was announced, was just five days after the rather punishing rate decision. And I’m just wondering whether once the punishment is meted out, does the governor and the Maryland body politic now move forward in working with you instead of working against you? Or am I just smoking something?

Joe Rigby

No, I don’t think you’re smoking something. I’d like to think that there’s an understanding that one thing leads to another and that there is a point of kind of a reasonable view that we’ve got to be able to move ahead.

The governor has said things that , I think, that give me some reason for optimism in that he’s recognized several times publicly that people have to be willing to pay for the kind of infrastructure that they want to have to meet their expectations. So I am hopeful that we’re at the beginning of a new phase where, with demonstrated performance, we can move ahead in a much more positive way. But that’s about to play out in front of us.