Delmarva Power

Last updated
Delmarva Power
Company typeSubsidiary
Industry energy industry   OOjs UI icon edit-ltr-progressive.svg
Founded1909
Headquarters Newark, Delaware, United States
Key people
David M. Velazquez
(President and CEO)
J. Tyler Anthony
(Senior Vice President and COO)
Donna J. Kinzel
(Senior Vice President and CFO)
Paul R. Bonney
(Senior Vice President)
Gary R. Stockbridge
(Delmarva Power Region President)
Number of employees
961
Parent Exelon
Website https://www.delmarva.com/

Delmarva Power is an energy company that provides electricity and natural gas to customers on portions of the Delmarva Peninsula in the states of Delaware and Maryland. [1] The company is a subsidiary of Exelon.

Contents

Electricity and natural gas

Delmarva Power has a 5,000-square-mile (13,000 km2) service area located on the Delmarva Peninsula, serving much of the state of Delaware and the Eastern Shore region of Maryland. [1] The company provides electricity to 312,000 customers in Delaware and 203,000 customers in Maryland as well as natural gas to 129,000 customers in northern Delaware. Delmarva Power has 961 employees and operates 10 facilities and 160 substations.

Transmission voltages are 500kV, 230kV, 138kV and 69kV. The company is a member of the PJM Interconnection.

History

The company was founded in 1909 [1] as Delaware Power & Light, which served Delaware. In 1943, Delaware Power & Light acquired Eastern Shore Public Service Company, which served the Eastern Shore region of Maryland and the Eastern Shore region of Virginia. The name of the company was changed to Delmarva Power & Light in 1966 and Delmarva Power in 1972. [2] In 1994, Delmarva Power announced it would acquire the Conowingo Power Company, the Maryland retail electric subsidiary of PECO Energy Company that served 35,000 customers in portions of Cecil and Harford counties, for $150 million. [3] [4] This acquisition was completed on June 19, 1995. [5]

In 1998, Delmarva Power acquired Atlantic Energy, which owned Atlantic City Electric in New Jersey, for $968 million. The merged utility company became known as Conectiv Power Delivery. Conectiv Power Delivery was acquired by the Potomac Electric Power Company in 2002 for $5.4 billion, which resulted in Pepco Holdings being created as a holding company that owned both utility companies. [6] In 2005, Pepco Holdings brought back the Delmarva Power and Atlantic City Electric names in place of Conectiv Power Delivery. [7]

Between 1981 and 2006, Delmarva Power operated and maintained the municipally-owned St. Michaels Electric Utility, which served 4,000 customers in the town of St. Michaels, Maryland, and surrounding areas, under a lease agreement. [8] [9] On October 15, 2006, the St. Michaels Electric Utility was acquired by Choptank Electric Cooperative for $12.2 million, ending Delmarva Power's lease of the system. [9] In 2008, Delmarva Power sold its service area in the Virginia portion of the Delmarva Peninsula, which consisted of 22,000 customers, to A&N Electric Cooperative and Old Dominion Electric Cooperative for $44 million. [2]

On April 30, 2014, Exelon announced that it would acquire Pepco Holdings, the parent company of Delmarva Power. The merger was initially rejected by the District of Columbia Public Service Commission in August 2015, although other federal and state regulators approved of the merger. After revised terms, the District of Columbia Public Service Commission approved the merger on March 23, 2016, and the $6.8 billion acquisition of Pepco Holdings by Exelon was completed the same day. As a result, Exelon serves as the parent company of Delmarva Power. [10]

In 2018, after Congress reduced corporate tax rates from 35% to 21%, Delmarva Power announced that they were reducing their annual power rate increase request for their territory in the state of Delaware by $26 million. Delaware state regulators requested public utility companies to calculate savings "to ensure that consumers will receive the benefits". [11]

Community

Since 2012, Delmarva Power had donated over $4.7 million to more than 750 organizations. [12] Delmarva Power supports of educational, environmental, arts and culture, and community development organizations. Delmarva Power’s employees give thousands of hours in time and talent as board members, coaches, and volunteers to support community nonprofit organizations. [13]

Related Research Articles

<span class="mw-page-title-main">Pepco</span> American energy company

The Potomac Electric Power Company (PEPCO) is an American utility company that supplies electric power to the city of Washington, D.C., and to surrounding communities in Maryland. It is owned by Exelon.

Commonwealth Edison, commonly known by syllabic abbreviation as ComEd, is the largest electric utility in Illinois, and the primary electric provider in Chicago and much of Northern Illinois. Its service territory stretches roughly from Iroquois County on the south to the Wisconsin border on the north and from the Iowa border on the west to the Indiana border on the east. For more than 100 years, Commonwealth Edison has been the primary electric delivery services company for Northern Illinois. Today, ComEd is a unit of Chicago-based Exelon Corporation, one of the nation's largest electric and gas utility holding companies. ComEd provides electric service to more than 3.8 million customers across Northern Illinois. The company's revenues total more than $15 billion annually.

The Public Service Enterprise Group, Inc. (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey, US established in 1985 with a legacy dating back to 1903.

<span class="mw-page-title-main">Exelon</span> American utility company

Exelon Corporation is a public utility headquartered in Chicago, and incorporated in Pennsylvania. Exelon is the largest electric parent company in the United States by revenue and is the largest regulated electric utility in the United States with approximately 10 million customers. The company is ranked 99th on the Fortune 500.

<span class="mw-page-title-main">Constellation Energy</span> Energy company headquartered in Baltimore, Maryland

Constellation Energy Corporation is an American energy company headquartered in Baltimore, Maryland. The company provides electric power, natural gas, and energy management services. It has approximately two million customers across the continental United States.

<span class="mw-page-title-main">FirstEnergy</span> American electric utility

FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997. Its subsidiaries and affiliates are involved in the distribution, transmission, and generation of electricity, as well as energy management and other energy-related services. Its ten electric utility operating companies comprise one of the United States' largest investor-owned utilities, based on serving 6 million customers within a 65,000-square-mile (170,000 km2) area of Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, and New York. Its generation subsidiaries control more than 16,000 megawatts of capacity, and its distribution lines span over 194,000 miles. In 2018, FirstEnergy ranked 219 on the Fortune 500 list of the largest public corporations in the United States by revenue.

Baltimore Gas and Electric Company (BGE) is a subsidiary of the Exelon Corporation and Maryland’s largest gas and electric utility. BGE earlier had created the holding company Constellation Energy in 1999. Constellation Energy was acquired by Exelon in 2012.

Pepco Holdings was a holding company incorporated in February 2001 for the purpose of effecting the acquisition of Conectiv Power Delivery by Potomac Electric Power Company. The acquisition was completed on August 1, 2002, at which time Pepco and Conectiv became wholly owned subsidiaries of PHI. Conectiv itself had been formed in 1998 to be the holding company of Delmarva Power & Light Company and Atlantic City Electric Company (ACE) in connection with the combination of DPL and ACE. In 2005, PHI resumed the use of the Delmarva Power and ACE brands for purposes of operations, with the result that Conectiv Energy was the only remaining Conectiv brand and was restricted for PHI's energy production facilities. Operations of the various companies controlled by Pepco Holdings take place in the Mid-Atlantic states of the United States. Pepco serves Washington, D.C., and its Maryland suburbs, Delmarva Power serves the Delaware and Maryland portions of the Delmarva Peninsula, and Atlantic City Electric serves South Jersey. In 2008, Delmarva Power sold its service area in the Virginia portion of the peninsula to A&N Electric Cooperative and Old Dominion Electric Cooperative for US$44 million. In April 2010, Conectiv Energy was sold to Calpine Corporation.

<span class="mw-page-title-main">WBOC-TV</span> CBS/Fox affiliate in Salisbury, Maryland

WBOC-TV is a television station in Salisbury, Maryland, United States, affiliated with CBS and Fox. It is the flagship television property of the Milton, Delaware–based Draper Holdings Business Trust, and is co-owned with low-power NBC affiliate WRDE-LD and Telemundo affiliate WBOC-LD, as well as eight radio stations. All of the outlets share studios on North Salisbury Boulevard in Salisbury; WBOC-TV maintains secondary studios/office facilities in Dover, Delaware, and transmitter facilities in Laurel, Delaware.

<span class="mw-page-title-main">Vectren</span> Former American utility company

Vectren Corporation was a Fortune 1000 energy holding company headquartered in Evansville, Indiana. Through its utility subsidiaries, the company distributed natural gas to approximately one million business and residential customers in Indiana and Ohio. It also distributed electricity to 141,000 customers and had 1,425 MW of primarily coal-fired generating capacity in Indiana. Vectren's nonutility subsidiaries and affiliates offered energy-related products and services to customers throughout the Midwest and Southeast. These included energy performance services and energy infrastructure services.

WEC Energy Group is an American company based in Milwaukee, Wisconsin that provides electricity and natural gas to 4.4 million customers across four states.

<span class="mw-page-title-main">Chesapeake Utilities</span> American corporation

Chesapeake Utilities Corporation is an American corporation formed in 1947. Chesapeake Utilities Corporation is a diversified energy company engaged, through our operating divisions and subsidiaries, in various energy and other businesses. Headquartered in Delaware, Chesapeake Utilities Corporation operates primarily within the Middle-Atlantic, Southeast and Midwest regions, providing natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.

<span class="mw-page-title-main">Choptank Electric Cooperative</span> Not-for-profit energy organization

Choptank Electric Cooperative is a nonprofit utility cooperative that distributes electricity to rural areas in the Eastern Shore region of the state of Maryland. The cooperative, which was founded in 1938, is headquartered in Denton.

PECO, formerly the Philadelphia Electric Company, is an energy company founded in 1881 and incorporated in 1929. It became part of Exelon Corporation in 2000 when it merged with Commonwealth Edison's holding company Unicom Corp.

UIL Holdings Corporation was a diversified energy delivery company serving a total of 690,000 electric and natural gas utility customers in 66 communities across two states, with combined total assets of over $4 billion. In 2015 it merged with Iberdrola USA to form Avangrid.

Comverge is an American privately held company that provides software, hardware, and services to electric utilities implementing demand response and energy efficiency programs.

<span class="mw-page-title-main">A&N Electric Cooperative</span> American utility cooperative serving Virginia and Maryland

A&N Electric Cooperative (ANEC) is a utility cooperative that distributes electricity to Accomack and Northampton counties in the state of Virginia along with Smith Island in Maryland, in the southern portion of the Delmarva Peninsula. The cooperative, which was founded in 1940, is headquartered in Tasley, Virginia. The cooperative serves a total of 33,000 members. It is a Touchstone Energy Cooperative and a member of Old Dominion Electric Cooperative (ODEC), an electric generation and transmission cooperative. As an electric cooperative, ANEC is owned by the members who it provides electricity to.

Unicom Corporation was an American energy holding company formed in 1994 from Commonwealth Edison after executives considered a corporate image makeover. The holding company merged with PECO Energy Company on October 23, 2000 to form Exelon.

<span class="mw-page-title-main">Carl Anderton Jr.</span> American politician

Carl Anderton Jr. is a Republican member of the Maryland House of Delegates representing district 38B.

References

  1. 1 2 3 "Company Information". delmarva.com. Retrieved 2018-01-23.
  2. 1 2 Parsons, Kye (January 2, 2008). "Delmarva Power Completes Sale of Virginia Operations". Salisbury, MD: WBOC-TV. Archived from the original on August 21, 2017. Retrieved June 29, 2017.
  3. ↑ "Company News; Delmarva Power To Buy PECO Energy Unit". The New York Times. May 26, 1994. Retrieved August 20, 2017.
  4. ↑ "PECO Energy To Sell Conowingo Power Company To Delmarva Power and Light Company". PR Newswire. May 25, 1994. Retrieved August 20, 2017.
  5. ↑ "Federal Register Volume 60, Number 136". Office of the Federal Register. July 17, 1995. Retrieved August 20, 2017.
  6. ↑ Ianieri, Brian (June 7, 2014). "Atlantic City Electric to become part of energy giant Exelon". Press of Atlantic City. Retrieved June 29, 2017.
  7. ↑ Brown, Tim (March 31, 2005). "PHI and Conectiv Power Delivery Announce New Executive Appointments and Name Change" (Press release). Conectiv Power Delivery. Retrieved June 29, 2017.
  8. ↑ "Choptank Electric Co-op Set to Buy St. Michaels Utility". WBOC-TV. March 3, 2006. Archived from the original on September 3, 2017. Retrieved September 3, 2017.
  9. 1 2 Nery, Steve (October 9, 2006). "Town's deal with Choptank OK'd Md. panel says co-op's purchase ensures stability for entire St. Michaels service area". The Star-Democrat. Easton, MD. Retrieved September 3, 2017.
  10. ↑ Anu Passary (March 25, 2016). "Exelon Closes $6.8 Billion Merger With Pepco Following Thumbs Up From Regulators". Tech Times. Retrieved June 28, 2016.
  11. ↑ Baker, Karl (2018-02-09). "Delmarva Power cuts rate increase request by $26M". delaware online. Retrieved 2019-11-19.
  12. ↑ "About Us". Delmarva Power. Retrieved 2017-07-03.
  13. ↑ "Delmarva Power Employees Celebrate Community Service Projects for National Volunteer Week". Delmarva Power. 2017-04-25. Retrieved 2017-07-03.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.