Pepco Holdings

Pepco Holdings
Pepco Holdings, Inc
Type Public (NYSE: POM)
Industry Electric Utility
Founded 2001
Headquarters Washington, D.C., USA
Key people Joseph M. Rigby, CEO, Chairman, & President
Products Electricity
Revenue $7.22 billion (2004)
Employees 5,592
Website pepcoholdings.com
References: [news 1]

Pepco Holdings, Inc. (PHI) is a holding company incorporated in February of 2001 for the purpose of effecting the acquisition of Conectiv Power Delivery by Potomac Electric Power Company (better known as "Pepco"). 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 (DPL, better known as "Delmarva Power") 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. Delmarva Power specifically serves the Delmarva Peninsula.

Pepco Holdings was placed at 283rd on the 2006 Fortune 500, a list of American companies ranked by gross revenue. In 2010, the company paid only 10% of the taxes it had paid in the previous year, dropping from US$104 million to US$11 million.[news 1] The company experienced a doubling of operating profit in 2011, in part due to approved utility rate increases in the states of Delaware, Washington, Maryland and New Jersey.[news 1]

Pepco Holdings org chart for subsidiary compenies.png

References

News

  1. ^ a b c Aaron Nathans (6 May 2011). "Pepco reports profit of $64M in first 3 months". The News Journal (Wilmington, Delaware: Gannett): DelawareOnline. Archived from the original on 7 May 2011. http://www.webcitation.org/5yVYheL8s. Retrieved 7 May 2011. 

External links

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