Peco

The U.S. Nuclear Regulatory Commission said yesterday that it has fined PECO Energy Co. $87,500 for failing to recognize that workers at its Peach Bottom generating plant had temporarily disabled an emergency system designed to prevent the reactors from overheating during a serious accident.Bill Jones, a PECO spokesman, said yesterday that the company would not contest the fine.Peach Bottom is a twin-reactor plant in Delta, Pa., on the Susquehanna River just north of the Harford County border and about 30 miles northeast of Baltimore.

As the economy has faltered over the past three years, more BGE customers have been in danger of losing their electric service because of overdue bills. Now, as BGE parent Constellation Energy Group seeks to sell itself to Exelon Corp., the state's advocate for residential customers fears that the proposed merger would hurt low-income customers' ability to receive payment assistance and other help. The Maryland Office of People's Counsel says the deal would lead to a consolidation of customer services that could cause the utility to become less responsive to the concerns of Baltimore Gas and Electric Co. ratepayers.

PHILADELPHIA -- Peco Energy Co. said it reached a settlement with opponents of its deregulation plans that includes a 10 percent reduction in its electric rates through 2000.The proposed settlement, filed yesterday with the Pennsylvania Public Utility Commission, contains rate reductions that Peco valued at $330 million annually.The Philadelphia-based utility also said that, as part of the agreement, which it expects state regulators to approve by year-end, it would take a one-time write-off of $2 billion.

As Exelon Corp. continues to pursue Constellation Energy Group, the Chicago energy giant is pointing to a decade-old deal with a Philadelphia utility as a success that should reassure wary Marylanders — and regulators — about its intentions toward Baltimore's last Fortune 500 company. Maryland officials, consumer advocates and others are not convinced that the proposed $7.9 billion Exelon-Constellation deal would benefit consumers and preserve local control of Baltimore Gas and Electric Co. On Monday, Maryland regulators will begin their review of the deal and hear from critics concerned about a range of issues from service levels to charitable contributions.

WHAT WE HAVE HERE is a lack of communication. That's the common explanation for what happened in last month's flooding of Port Deposit by the swollen Susquehanna River, a lapse that deserves serious attention.Residents of the Cecil County town insist that PECO Energy Co. did not give adequate warning before opening most of the 52 flood gates on the Conowingo Dam that weekend to prevent the structure from cracking.The resulting floodwaters damaged a third of Port Deposit's homes, buried vehicles in mud, forced raw sewage into the streets, smashed tethered boats and trapped people in their residences.

In a sign of the changing utility industry, Baltimore Gas and Electric Co. announced yesterday that it has selected neighboring utility company PECO Energy Co. of Philadelphia to provide it with 140 megawatts for the next 25 years.The award marks the first time in BG&E's 178-year history that it has selected a power source through competitive bidding rather than by building the plant itself or negotiating an arrangement with another company.It also is a harbinger of the new utility market, in which utilities and independent power producers will be competing fiercely to provide the cheapest electricity.

Baltimore Gas & Electric Co.'s selection of an outside power supplier through competitive bidding -- the first time in its history -- marks a step into the brave new world of price competition among energy producers.But the step is not a bold one: the Public Service Commission had ordered BG&E to seek bids for the 140 megawatts of power due on line in 1997. And the winner is no small, independent newcomer but an old-line utility company with the highest rates in Maryland: PECO Energy Corp.

A deal for Baltimore Gas and Electric Co. to buy electricity from a neighboring utility is so good for ratepayers that BGE should consider pushing up the implementation date from 1997 to next year, according to the Office of the People's Counsel, the state agency that represents ratepayers."

Facing the possibility of its Maryland operation being forced to buy electricity from other, lower-priced utilities, Philadelphia-based PECO Energy Co. said yesterday that it was exploring whether to sell its Conowingo Power Co. operation in Cecil County.PECO, formerly known as Philadelphia Electric Co., said it retained Morgan Stanley & Co., the New York investment banking firm, to test the market for a possible sale of Conowingo.But the utility company said a sale of Conowingo Power (COPCO)

Workers at the Peach Bottom nuclear power plant near Delta, Pa., temporarily weakened a key safety system designed to prevent a reactor meltdown -- and didn't realize it, federal regulators say.The safety system at the plant north of the Maryland line in the Harford County area was fully restored in less than an hour, but the incident on Aug. 3 has prompted an inquiry by the Nuclear Regulatory Commission.The action could result in a fine against PECO Energy Co., the utility that operates the twin-reactor plant on the Susquehanna River.

PHILADELPHIA - Peco Energy Co., owner of Philadelphia's electric utility, agreed yesterday to buy 49.9 percent of Vivendi SA's North American power-plant unit for $680 million, giving it more electricity to sell in the northeastern United States. Vivendi's Sithe Energies Inc. owns generators in New York, New Jersey, Maine and Massachusetts, where it's more profitable to sell electricity to utilities than in most parts of the United States. Its 27 plants produce about 3,800 megawatts of electricity, enough to light 3.8 million homes.

PHILADELPHIA -- Peco Energy Co. said it reached a settlement with opponents of its deregulation plans that includes a 10 percent reduction in its electric rates through 2000.The proposed settlement, filed yesterday with the Pennsylvania Public Utility Commission, contains rate reductions that Peco valued at $330 million annually.The Philadelphia-based utility also said that, as part of the agreement, which it expects state regulators to approve by year-end, it would take a one-time write-off of $2 billion.

WHAT WE HAVE HERE is a lack of communication. That's the common explanation for what happened in last month's flooding of Port Deposit by the swollen Susquehanna River, a lapse that deserves serious attention.Residents of the Cecil County town insist that PECO Energy Co. did not give adequate warning before opening most of the 52 flood gates on the Conowingo Dam that weekend to prevent the structure from cracking.The resulting floodwaters damaged a third of Port Deposit's homes, buried vehicles in mud, forced raw sewage into the streets, smashed tethered boats and trapped people in their residences.

Finger-pointing flared yesterday in Port Deposit, where residents cleaning up the mud and muck from their worst flood in a quarter-century blamed the neighboring Conowingo Dam for inadequate notice that the water was coming.Mayor Erma Keetley said the town might sue PECO Energy Co., which operates the hydroelectric dam two miles up the Susquehanna River.PECO officials said they coped with the emergency as best they could, building sandbag walls to protect the dam's machinery and mechanisms that control the floodgates.

Flag plant set in Havre de GraceThe F. W. Haxel Co., a Baltimore manufacturer of flags, will open a 12,000-square-foot plant next month on U.S. 40 near Havre de Grace.Production at the new Haxel facility will include sewing and silk screening flags and banners, work that was previously completed outside Maryland. The facility will include a retail flag, flagpole and banner shop.Merchandise manufactured in Havre de Grace will be sold locally and to companies throughout the United States. The new facility initially will have job openings for eight persons, but employment is expected to expand to 20.Kornblatt joining Casey firmCasey & Associates Inc. yesterday announced that Henry S. Kornblatt has joined the commercial real estate brokerage firm, where he will specialize in industrial property sales and leasing.

The U.S. Nuclear Regulatory Commission said yesterday that it has fined PECO Energy Co. $87,500 for failing to recognize that workers at its Peach Bottom generating plant had temporarily disabled an emergency system designed to prevent the reactors from overheating during a serious accident.Bill Jones, a PECO spokesman, said yesterday that the company would not contest the fine.Peach Bottom is a twin-reactor plant in Delta, Pa., on the Susquehanna River just north of the Harford County border and about 30 miles northeast of Baltimore.

The Maryland Public Service Commission yesterday approved a contract for the Baltimore Gas and Electric Co. to buy power from a neighboring utility starting in 1997 with no formal requirement that the low-cost agreement be implemented sooner.But the five-member board made it clear that BGE management could be held responsible in future rate hearings if its choice is not the least expensive. "Management realizes its obligations on least-cost planning," said Lilo K. Schifter, the board member who made the motion to approve the contract.

Flag plant set in Havre de GraceThe F. W. Haxel Co., a Baltimore manufacturer of flags, will open a 12,000-square-foot plant next month on U.S. 40 near Havre de Grace.Production at the new Haxel facility will include sewing and silk screening flags and banners, work that was previously completed outside Maryland. The facility will include a retail flag, flagpole and banner shop.Merchandise manufactured in Havre de Grace will be sold locally and to companies throughout the United States. The new facility initially will have job openings for eight persons, but employment is expected to expand to 20.Kornblatt joining Casey firmCasey & Associates Inc. yesterday announced that Henry S. Kornblatt has joined the commercial real estate brokerage firm, where he will specialize in industrial property sales and leasing.

Workers at the Peach Bottom nuclear power plant near Delta, Pa., temporarily weakened a key safety system designed to prevent a reactor meltdown -- and didn't realize it, federal regulators say.The safety system at the plant north of the Maryland line in the Harford County area was fully restored in less than an hour, but the incident on Aug. 3 has prompted an inquiry by the Nuclear Regulatory Commission.The action could result in a fine against PECO Energy Co., the utility that operates the twin-reactor plant on the Susquehanna River.

The Maryland Public Service Commission yesterday approved a contract for the Baltimore Gas and Electric Co. to buy power from a neighboring utility starting in 1997 with no formal requirement that the low-cost agreement be implemented sooner.But the five-member board made it clear that BGE management could be held responsible in future rate hearings if its choice is not the least expensive. "Management realizes its obligations on least-cost planning," said Lilo K. Schifter, the board member who made the motion to approve the contract.