Washington, May 6, 2011 – For the first quarter of 2011, Pepco made $97 million in capital improvements to its electric system, compared to $65 million for the comparable period in 2010.
The increase in investment was primarily due to higher spending for distribution reliability and transmission infrastructure. Also during the first quarter of 2011, Pepco spent $102 million for operations and maintenance of the electric system, compared to $88 million in the first quarter of 2010.
The increase in spending was primarily due to emergency restoration costs incurred during severe storms in the first quarter of 2011, higher costs from trimming more trees, and increased spending on corrective and preventive maintenance of the electric system.
Pepco is a unit of PHI, which is a shareholder-owned public utility holding company. PHI’s financial results are derived primarily from the operating results of its units: Pepco, Atlantic City Electric, Delmarva Power and Pepco Energy Services.
Pepco, a unit of Pepco Holdings, Inc., delivers safe, reliable and affordable electric service to more than 789,000 customers in Maryland and the District of Columbia.
Pepco Holdings, Inc. is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 1.9 million customers in Delaware, the District of Columbia, Maryland and New Jersey.