BUSINESS
By BLOOMBERG NEWS | July 26, 2003
WASHINGTON - Pepco Holdings Inc., owner of the electric utility that serves the metropolitan Washington area, would have a $700 million claim if Mirant Corp., which filed for bankruptcy protection last week, cancels an electricity-supply contract, Pepco Chief Executive Officer Dennis Wraase said yesterday. The company would expect to recover a "substantial" amount of the claim through the bankruptcy court in the event of a cancellation, Wraase said in an interview. Pepco probably would raise customer rates to recover any money it can't get from Atlanta-based Mirant, he said.
BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN STAFF | April 2, 2003
Pepco Holdings Inc. launched a lobbying campaign yesterday to defeat a House-passed bill that would allow two Maryland counties and their municipalities to shop for lower electricity rates on behalf of their citizens. The House bill would create a pilot program in Prince George's and Montgomery counties, where Pepco is a major power supplier. Starting Oct. 1, the bill would let each county, or its incorporated subdivisions, sign deals with licensed power suppliers to buy electricity in bulk for residents and small businesses in their areas, a practice known as aggregation.
NEWS
May 3, 2001
THE NATION'S economy may be jittery, but you wouldn't know it judging by building activity along Baltimore's shoreline: Construction has started on the city's first new office tower in a decade. The anchor tenant of the 18-story glass-and-granite sliver at 750 E. Pratt St. will be Constellation Energy Group Inc., the parent of Baltimore Gas and Electric Co. Seventy-six luxury townhouses and 164 apartments are being added to the HarborView development along Key Highway. Next door, at the foot of Federal Hill, planning continues for a Ritz-Carlton hotel and condominium project.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | June 9, 2000
Potomac Electric Power Co. said yesterday that it has signed an agreement to sell four power plants in Maryland and Virginia and other assets to a subsidiary of Atlanta-based Southern Co., the largest U.S. electricity producer, for $2.65 billion. The sale to Southern Energy - which was selected through a bid process that began in January - includes a 51.5-mile pipeline serving the Maryland power plants, an engineering and maintenance service facility, and other assets. Also, Southern Energy will operate and maintain two other Pepco power plants in Washington that weren't included in the sale.
NEWS
October 6, 1999
THE GOVERNOR was right to call for an investigation into the response of Maryland's utility companies to Hurricane Floyd, but he shouldn't be looking for a scapegoat to make himself look good.Obviously, Marylanders who struggled without power -- some for a week -- feel the utility companies were ill-prepared for a storm that didn't appear to pack as big a wallop as others in recent years.But Baltimore Gas and Electric Co. officials say Floyd was more destructive than it appeared; in fact, the power company calls Floyd its most devastating storm in 40 years.
NEWS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | September 25, 1999
Joining a rising chorus of Marylanders protesting Baltimore Gas & Electric Co.'s repair performance after Hurricane Floyd, Gov. Parris N. Glendening ordered state regulators yesterday to investigate whether area utilities are maintaining proper emergency response plans.In calling on the Public Service Commission to investigate local power companies' disaster mitigation plans, the governor cited the recent hurricane and severe power outages to Potomac Electric Power Co. customers in January.