Pepco Holdings (PHI) arguably has more power in the US capital than most politicians. The holding company distributes electricity and natural gas through its Potomac Electric Power (Pepco), Delmarva Power & Light, and Atlantic City Electric utilities to about 2.3 million customers in Delaware, Maryland, New Jersey, and Washington, DC. None of the company's three utilities have power generation plants. Nonregulated operations include energy efficiency consultation and renewable energy services for institutional and government clients, through the company's Pepco Energy Services unit. In a major industry consolidation move, in 2016 PHI was bought by rival Exelon for $6.9 billion.