Delmarva Power & Light has a delmarvellous proposition -- connecting people to an extensive energy supply network. The company is engaged in the transmission and distribution of electricity in Delaware and a portion of Maryland (the Eastern Shore); it delivers electricity to about 500,000 customers. Delmarva Power & Light also provides natural gas (in northern Delaware) to more than 121,000 customers. Delmarva Power & Light is a subsidiary of Pepco Holdings, which owns two other utilities (Potomac Electric Power and Atlantic City Electric) as well as competitive energy generation, marketing, and supply businesses.
The company posted slightly weaker revenues and income in 2009, primarily the result of the global recession dampening customer demand. In 2010 overall revenues and income dipped slightly further due to lower gas rates.
In 2009 the utility bid for $93 million of federal stimulus funds to support its smart grid (distribution automation technology) plan, aimed at improving the efficiency of its power supply infrastructure. In 2010 parent company Pepco Holdings received $168.1 million in smart grid grants from stimulus funding.
To meet stricter environmental regulations, Delmarva Power is committed to boost the amount of renewable energy sources used to generate power from a small percentage to up to 20% by 2020. In 2010 the company secured the go ahead from the Delaware Public Service Commission to build one of largest solar energy projects in the region. The 10 MW solar power plant in the Garrison Oak Technology Park will supply power to 1,300 homes. Delmarva Power also anticipates receiving wind power from an offshore wind farm project (NRG Bluewater Wind), which is due to be completed by 2016.
To help it meet its infrastructure demands, in 2011 the Delaware Public Service Commission approved an $16.7 million boost in Delmarva Power's electric distribution rates for its Delaware customers. – less