WASHINGTON, July 31, 2001 – Pepco Energy Services has signed contracts representing more than $7.6 million to supply electricity to six large Baltimore Gas & Electric area power users – substantially expanding its market presence in Maryland outside Potomac Electric Power Company’s service area.
These contract wins represent more half of the approximately 11 BGE “Schedule P” customers who were faced with the decision to stay with the utility or choose a new electric supplier by July 2001.
Under the agreements, Pepco Energy Services will sell electricity to facilities at the U.S. Naval Research Laboratory, Chesapeake Beach, Md.; Andrews Air Force Base, Gambrills, Md.; Baltimore’s Bon Secours Hospital; ADM CountryMark, Baltimore, Md.; City Crescent Limited Partnership, Baltimore, Md.; and Harford County Waste Water Treatment Plant, Perryman, Md. These “Schedule P” customers were among BGE’s largest commercial and industrial accounts and represent a total of 11 megawatts of peak load.
Under BGE’s electricity restructuring agreement, these customers’ electricity rates would have shifted to market-based rates beginning July 2001, had they not selected a new supplier. As part of this restructuring agreement, BGE gave its “Schedule P” customers the option to be a part of the first set of participants to move to market-based pricing or another electricity supplier by July 2001. It is estimated that there are as many as 400 additional “Schedule P” customers who will have to make similar decisions between now and July of 2002.
“With the addition of these six major contracts, Pepco Energy Services is continuing to expand its already established portfolio of customers in the Baltimore area,” said Pepco Energy Services President and CEO Ed Mayberry. “These wins strengthen our position as one of Maryland’s energy suppliers, not just in the Washington, D.C. area, but throughout the state. We’re pleased to see that deregulation is working and already bringing real benefits to Maryland power consumers.”
Pepco Energy Services has been offering competitively priced electricity supplies since 1999, beginning in Pennsylvania’s deregulated power market.
About Pepco Energy Services
Pepco Energy Services, Inc., a wholly owned, separately-managed subsidiary of Potomac Electric Power Company, provides residential, commercial, institutional and government customers a complete suite of integrated energy management solutions including electricity and natural gas; energy surveys; energy information systems; fuel management services; heating, ventilation and air conditioning systems; lighting; project financing; and energy operations and maintenance services.
Visit http://www.pepcoenergy.com for more information about a variety of energy products and services.
Pepco Energy Services, Inc., is not the same company as Potomac Electric Power Company, and prices and services of Pepco Energy Services, Inc., are not set by the Public Service Commission.