Conectiv sells telecommunications business and interest in power plant

Conectiv CEO Howard Cosgrove said, “Both of these transactions represent a step forward in executing our strategy of focusing on core energy businesses that have the greatest potential to drive profitable growth. The centerpiece of our strategy is the construction of up to 4,000 megawatts (MWs) of modern, efficient, environmentally friendly `mid merit’ power plants, which can start and stop quickly in response to changes in the demand for power across the Mid-Atlantic region. Our mid-merit strategy is complemented by our regulated power delivery business, Conectiv Power Delivery, which generates steady earnings by providing safe, reliable, and affordable energy service to its one million customers.”

EDISON, N.J., June 6, 2001 – Electrotek Concepts, a division of WPT Inc., was selected by the U.S. Department of Energy (DOE) and the New York Energy Research and Development Authority (NYSERDA) to demonstrate the aggregation of dispatchable backup generators to provide energy and ancillary services in New York State’s price-responsive load market.

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