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

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: Dennis R. Wraase

CEO and president: Joseph M. Rigby

2006 Financial Data

Revenues: $8,362,900,000 | Net Income: $248,300,000
Asssets: $14,243,500,000 | Earnings Per Share: $1.30
Stockholder Equity: $3,612,200,000 | Annual Dividend: $1.04
Total employees: 5,057 | Local employees: 2,223