Delmarva Power is an energy company that provides electricity and natural gas to customers on portions of the

Delmarva Peninsula The Delmarva Peninsula, or simply Delmarva, is a large peninsula and proposed state on the East Coast of the United States, occupied by the vast majority of the state of Delaware and parts of the Eastern Shore regions of Maryland and Virginia. ...

in the states of

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacen ...

and

Maryland Maryland ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; ...

. The company is a subsidiary of

Exelon Exelon Corporation is an American Fortune 100 energy company headquartered in Chicago, Illinois and incorporated in Pennsylvania. It generates revenues of approximately $33.5 billion and employs approximately 33,400 people. Exelon is the larges ...

Electricity and natural gas

Delmarva Power has a service area located on the

, serving much of the state of

and the

Eastern Shore Eastern Shore may refer to: * Eastern Shore (Nova Scotia), a region * Eastern Shore (electoral district), a provincial electoral district in Nova Scotia * Eastern Shore of Maryland, a region * Eastern Shore of Virginia, a region * Eastern Shore (Al ...

region of

. 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.

History

The company was founded in 1909 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

region of

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the East Coast of the United States, Atlantic Coast and the Appalachian Mountains. The geography an ...

. The name of the company was changed to Delmarva Power & Light in 1966 and Delmarva Power in 1972. In 1994, Delmarva Power announced it would acquire the

Conowingo Power Company 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. The company has ...

, the Maryland retail electric subsidiary of PECO Energy Company that served 35,000 customers in portions of Cecil and Harford counties, for $150 million. This acquisition was completed on June 19, 1995. In 1998, Delmarva Power acquired Atlantic Energy, which owned Atlantic City Electric in

New Jersey New Jersey is a U.S. state, state in the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. It is bordered on the north and east by the state of New York (state), New York; on the ea ...

, 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 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 (better known as "Pepco"). The acquisition was completed on August 1, 20 ...

being created as a holding company that owned both utility companies. In 2005, Pepco Holdings brought back the Delmarva Power and Atlantic City Electric names in place of Conectiv Power Delivery. 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. 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. 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. On April 30, 2014,

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. 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".

Community

Since 2012, Delmarva Power had donated over $4.7 million to more than 750 organizations. 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.

References

External links

Delmarva PowerExelon Corporation
{{Power stations in Maryland Exelon Companies based in Wilmington, Delaware Electric power companies of the United States Natural gas companies of the United States