Pepco Holdings to Spend More Than $5 Billion on Construction Projects Through 2013

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Researched by Industrial Info Resources (Sugar Land, Texas)--Pepco Holdings Incorporated (NYSE:POM) (Washington, D.C.) recently held an analyst conference in Washington, D.C., discussing the company's plans and strategies in the context of today's changing economic conditions. "Our strategy hasn't changed," said Pepco's soon-to-be-retired Chairman of the Board, Dennis Wrasse. "We're mainly a T&D [transmission and distribution] company with two complementary competitive businesses. We are well positioned to deal with these turbulent times."

The company has made a few changes in its planned construction projects. Pepco Holdings has reduced scheduled construction spending for power delivery in 2008, 2009 and 2010 by $129 million, $229 million and $178 million, respectively. Construction involving service connections, meter installations and highway relocations will be reduced. Nevertheless, the company still anticipates more than $5 billion of power delivery construction between now and the end of 2013, including approximately $2.4 billion in transmission projects and $2.9 million in distribution projects. Spending will be maintained on new and upgraded facilities and other construction that will support load growth. The company intends to accelerate any projects that might be available for newly released federal funding.

"This company is really on the right track. Our vision to implement the blueprint of the future is the right plan at the right time. There's no question we're ahead of the pack on this issue. Our plans align well with the vision of the new president and, most importantly, we will be addressing the needs of our customers," said Wrasse.

Industrial Info is monitoring just under $2 billion of current and planned projects of Pepco Holdings and its subsidiaries. Included in this figure is the ambitious Mid-Atlantic Power Pathway project, which consists of a grassroot 230-mile, 530-kilovolt transmission line running from Possum Point power station in Dumfries, Virginia, eventually reaching Salem, New Jersey. The initial section from Virginia to Calvert Cliffs Nuclear Power Station in Lusby, Maryland, is expected to be operational by the end of 2011.

Smaller Pepco Holdings projects are also included in Industrial Info's North American Industrial Database, such as the $1.8 million maintenance outage of Unit 7 at the Hay Road Power Station in Wilmington, Delaware. The plant is owned by Conectiv Delmarva Generation Incorporated (Wilmington), a subsidiary of Pepco Holdings. The outage, which kicked off in March of this year, will involve major inspections and repairs to the unit and is expected to be completed by the end of April.

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