Pepco Holdings Inc. / POM
Pepco linemen upgrade a power line at 49th PL and Fitch Pl., NE. (Photo: James M. Thresher / The Washington Post)
About Pepco Holdings Inc.
701 Ninth St. NW, Washington, D.C. 20068
www.pepcoholdings.com
| 202-872-2000
| Founded: 1896
Industry: Energy | Category: Top 100 Companies
Blame it on the weather, Pepco Holdings executives said. Excluding special items, profit was $254 million ($1.33 a share) in 2006, down from $288 million ($1.52) in 2005. The company said lower demand accounted for 17 cents of the 19-cent decline in per-share earnings.
Nonetheless, Pepco, Delmarva Power and Atlantic City Electric each hit a new peak for electricity usage in August 2006. Pepco and Delmarva Power hit new winter peaks for usage in February 2007.
Profit was also affected by a shutdown of the company's Hay Road power plant for repairs.
The company benefited from some one-time items. The biggest was a $42.2 million (22 cents) gain associated with the settlement of a claim against Mirant, which went bankrupt in 2003.
The company's regulated utilities filed four requests for increases in distribution rates. Delmarva Power filed a gas case in Delaware. Pepco and Delmarva Power filed electricity cases in Maryland, and Pepco filed an electricity case in the District.
Chairman and CEO: Dennis R. Wraase
Vice chairman and general counsel: William T. Torgerson
2007 Financial Data
Total employees: 5,057 | Local employees: 2,223Company Leadership
| Dennis R. Wraase | Chairman, president and CEO |
| Ed R. Mayberry | Former SVP |
| William J. Sim | Former SVP |
| William T. Torgerson | Vice chairman and General counsel |
| Thomas S. Shaw | EVP and COO |
| Joseph M. Rigby | SVP and CFO |
Source: Compensation data provided by Equilar, Inc..
|
Dennis R. Wraase Chairman, President and Chief Executive Officer |
$9,098,571 Salary: $1,026,941 |
Did You Know
Pepco Holdings Inc. serves about 1.8 million customers in the District, Maryland, Virginia, Delaware and New Jersey. Pepco Holdings subsidiaries Pepco, Delmarva Power and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. Pepco Holdings provides wholesale generation services through Conectiv Energy and retail services through Pepco Energy Services.
