• Atlantic City Electric Addresses State Economic Stimulus Initiative

    Feb 02, 2009

    Utility’s Infrastructure Investment Proposal Will Create Jobs

    MAYS LANDING, N.J. – Atlantic City Electric recently filed a $52 million infrastructure investment proposal with the New Jersey Board of Public Utilities (BPU). The plan responds to Governor Jon Corzine’s recent request that all New Jersey utilities accelerate spending on capital improvement projects to stimulate and support the economic stability of the state. The Company also plans to file a second proposal to develop new energy efficiency programs valued at $10 million. If approved, both programs could create up to an estimated 570 jobs in New Jersey.

    Over the next two years, under its infrastructure proposal, Atlantic City Electric expects to spend $42.8 million in capital projects, $5 million to install solar panels at company facilities and $4.2 million on direct load control equipment. The capital projects include: mercury vapor street light replacements, a substation installation and upgrade, a Smart Grid data network installation, as well as transmission and distribution infrastructure improvements.

    “In addition to creating jobs, these investments will ultimately enhance service for our customers by improving reliability, utilizing new technology and creating additional capacity for new growth in South Jersey,” said Ken Parker, Atlantic City Electric Region President.

    Atlantic City Electric proposes to recover program costs through a surcharge which is estimated to have a bill impact of less than one percent.

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    Atlantic City Electric, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe, reliable and affordable regulated electric delivery services to more than 545,000 customers in southern New Jersey.