Delmarva Power
 | |
| Subsidiary | |
| Founded | 1909 |
| Headquarters | Wilmington, Delaware, United States |
Key people |
Denis P. O'Brien (Senior Vice President and CFO) |
Number of employees | 898 |
| Parent | Exelon |
| Website | https://www.delmarva.com/ |
Delmarva Power is a energy company that provides electricity and natural gas to customers on portions of the Delmarva Peninsula in the states of Delaware and Maryland. The company is a subsidiary of Exelon.
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. 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.[1][2] Delmarva Power has 898 employees and operates 10 facilities and 160 substations.[3]
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.[4] 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 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.[5] In 2005, Pepco Holdings brought back the Delmarva Power and Atlantic City Electric names in place of Conectiv Power Delivery.[6] 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.[4] 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.[7]
Community
Since 2012, Delmarva Power had donated over $4.7 million to more than 750 organizations.[1] 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.[8]
References
- 1 2 3 "About Us". Delmarva Power. Retrieved 2017-07-03.
- ↑ "Service Territory". Delmarva Power. Retrieved 2017-07-03.
- ↑ "Delmarva Power". Delmarva Power. Retrieved 2017-07-03.
- 1 2 Parsons, Kye (January 2, 2008). "Delmarva Power Completes Sale of Virginia Operations". Salisbury, MD: WBOC-TV. Retrieved June 29, 2017.
- ↑ Ianieri, Brian (June 7, 2014). "Atlantic City Electric to become part of energy giant Exelon". Press of Atlantic City. Retrieved June 29, 2017.
- ↑ 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.
- ↑ Anu Passary (March 25, 2016). "Exelon Closes $6.8 Billion Merger With Pepco Following Thumbs Up From Regulators". Tech Times. Retrieved June 28, 2016.
- ↑ "Delmarva Power Employees Celebrate Community Service Projects for National Volunteer Week". Delmarva Power. 2017-04-25. Retrieved 2017-07-03.