Delmarva Power
| Company type | Subsidiary |
|---|---|
| Industry | Energy |
| Predecessor | Delaware Power & Light |
| Founded | 1909 |
| Headquarters | Wilmington , United States |
Area served | Delaware, Maryland (Delmarva Peninsula) |
| Products | Electricity, Natural gas |
Number of employees | 961 |
| Parent | Exelon |
| Website | www |
Delmarva Power is an energy provider delivering electricity and natural gas services to customers located on the Delmarva Peninsula within Delaware and Maryland. It functions as a subsidiary under the ownership of Exelon.
Electricity and natural gas
Operating across the Delmarva Peninsula, Delmarva Power covers a substantial portion of Delaware along with Maryland’s Eastern Shore. The company supplies electrical power to approximately 312,000 clients in Delaware and 203,000 in Maryland, while also providing natural gas to 129,000 customers in northern Delaware. Its workforce consists of 961 employees who oversee operations at 10 facilities and maintain 160 substations. The transmission system includes voltage levels of 500kV, 230kV, 138kV, and 69kV. Delmarva Power participates as a member of the PJM Interconnection regional transmission organization.
History
Established in 1909 under the name Delaware Power & Light, the company originally focused its services within Delaware. Expansion into Maryland’s and Virginia’s Eastern Shore areas occurred in 1943 following the acquisition of Eastern Shore Public Service Company. The corporate name was updated to Delmarva Power & Light in 1966 and later abbreviated to Delmarva Power in 1972.
In 1994, Delmarva Power purchased Conowingo Power Company from PECO Energy for $150 million, thereby adding around 35,000 customers located in Cecil and Harford counties of Maryland; the transaction was completed by June 1995.
The acquisition of Atlantic Energy, owner of Atlantic City Electric in New Jersey, took place in 1998 for $968 million. This merger formed Conectiv Power Delivery. Subsequently, Potomac Electric Power Company acquired Conectiv in 2002 for $5.4 billion, establishing Pepco Holdings as the parent company overseeing both utilities. By 2005, Pepco Holdings reinstated the Delmarva Power and Atlantic City Electric brand identities.
Between 1981 and 2006, Delmarva Power operated the municipally owned St. Michaels Electric Utility under lease until its sale to Choptank Electric Cooperative for $12.2 million. In 2008, Delmarva divested its Virginia service territory comprising 22,000 customers to A&N Electric Cooperative and Old Dominion Electric Cooperative for $44 million.
On April 30, 2014, Exelon announced its intent to acquire Pepco Holdings. Following regulatory scrutiny and modifications, the $6.8 billion merger received approval from the District of Columbia Public Service Commission and was finalized on March 23, 2016, resulting in Exelon becoming the parent company of Delmarva Power.
In response to the federal corporate tax rate reduction from 35% to 21% enacted in 2018, Delmarva Power lowered its requested annual rate increase for Delaware customers by $26 million as directed by state regulators to ensure benefits were passed on to consumers.
Community
Since 2012, Delmarva Power has contributed over $4.7 million to upwards of 750 organizations supporting initiatives in education, environmental stewardship, arts and culture, along with community development efforts. Employees actively engage by volunteering thousands of hours serving as board members, coaches, and advocates within nonprofit organizations.