Pepco Holdings / POM

About Pepco Holdings

701 Ninth St. NW, Washington, D.C. 20068
www.pepcoholdings.com | 202-872-2000 | Founded: 1896

Industry: Energy | Category: Public Companies

Pepco has been dealing with the loss of electrical generation from an Alexandria plant owned by Mirant Corp. The plant, which supplies power to Pepco customers, was ordered shut down last year because of pollution issues, creating concerns about power supply in the Washington area. More recently, the plant has been operating on a limited basis.
To deal with reduced local power generation, Pepco announced it would spend an estimated $70 million to build two new high-voltage transmission lines to bring power to customers in the Washington area.
For 2005, Pepco reported a profit of $371.2 million, up from $260.6 million the previous year. Revenue rose 12 percent to $8.07 billion.
In March of this year, Pepco became embroiled in an uproar over electricity rate increases. The company announced increases averaging 12 percent for residential customers in the District and 38.5 percent for suburban Maryland, as permitted under a system of deregulation. State legislators in Maryland sought to delay or reduce the increases. The company said the increases were attributable solely to the higher prices it had to pay for fuel.
Pepco's increases, though, were overshadowed by rate hikes of 72 percent by Constellation Energy Group's Baltimore Gas & Electric Co. In April, Maryland officials and Pepco negotiated a tentative agreement under which customers would have the option of stretching out payment of the increase.

Chairman: Dennis R. Wraase

CEO and president: Joseph M. Rigby

2005 Financial Data

Revenues: $8,065,500,000 | Net Income: $371,200,000
Asssets: $14,017,800,000 | Earnings Per Share: $1.96
Stockholder Equity: $3,584,100,000 | Annual Dividend: $1.00
Total employees: 5,481 | Local employees: 2,530