PHI spins off technology unit assets to EPRI

WASHINGTON, Aug. 12, 2002 — Pepco Holdings Inc. announced recently that it is spinning off the assets of its wholly owned, non-regulated technology affiliate, Pepco Technologies LLC, to the Electric Power Research Institute (EPRI) in Palo Alto, Cal.

Pepco established the technology unit in 1999 to develop advanced grid interface technologies for connecting and integrating on-site power generation (distributed resource) systems to the electric grid.

In late 1999, Pepco Technologies successfully commercialized its GenerLink® product, a UL-listed switch that is installed behind an electric meter to provide homeowners with a safe and easy method of connecting a portable generator to power their homes during a power outage.

EPRI, a company that creates technology solutions for the energy industry, plans to seek a suitable manufacturer with a nationwide distribution capability to license the GenerLink® product.

In addition, EPRI plans to continue development of Pepco Technologies’ prototype device that would allow interconnection between a distributed resource, such as a fuel cell, and the power grid, and would enable a safe flow of power back to the grid.

“EPRI provides a great home to continue the significant work we started in the utility interconnection area,” said Brad Johnson, President of Pepco Technologies. “They are uniquely positioned to assume the leadership role on behalf of the industry for developing the advanced technologies that can safely and efficiently integrate distributed resource products into the electric grid.”

“We are very excited about this opportunity and plan to begin working immediately with our utility partners and key industry stakeholders to realize the full potential of the Pepco Technologies assets,” said Henry Courtright, Vice President of Generation and Distributed Resources at EPRI.

About PHI

PHI is a diversified energy company formed as a result of the merger of Pepco and Conectiv. The combined company delivers 50,000 gigawatt-hours of power to more than 1.8 million customers in Washington, D.C., Delaware, New Jersey, Maryland and Virginia. PHI engages in regulated utility operations by delivering electricity and natural gas, and provides competitive energy products and services to residential and commercial customers.

About EPRI

EPRI, headquartered in Palo Alto, Calif., was established in 1973 as a non-profit center for public interest energy and environmental research. EPRI’s collaborative science and technology development program now spans nearly every area of power generation, delivery and use. More than 1,000 energy organizations and public institutions in 40 countries draw on EPRI’s global network of technical and business expertise.

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