About Pepco Holdings, Inc.

Pepco Holdings (PHI) arguably has more power in the US capital than most politicians. The holding company distributes electricity and natural gas through its Potomac Electric Power (Pepco), Delmarva Power & Light, and Atlantic City Electric utilities to about 2 million customers in Delaware, Maryland, New Jersey, and Washington, DC. None of the company's three utilities have power generation plants. Nonregulated operations include energy efficiency consultation and renewable energy services for institutional and government clients, through the company's Pepco Energy Services unit. In a major industry consolidation move, in 2014 PHI agreed to be bought by rival Exelon for $6.8 billion.

Geographic Reach

PHI primarily serves customers in Delaware, Maryland, New Jersey, Virginia, and Washington, DC.


PHI's subsidiaries provide regulated power delivery, and non-regulated energy and other services through its subsidiaries. Pepco, Delmarva Power, and Atlantic City Electric provide regulated electricity services (Delmarva Power also provides natural gas service). Pepco Energy Services provides energy efficiency and renewable energy services. Pepco Energy Services owns five renewable energy generating facilities, with a total generating capacity of 17.4 MW.

The power delivery segment generates 96% of its total sales. Pepco Energy Services represents 4%, and other operations account for the rest.

Financial Performance

The company’s revenues have been restated due to divestiture of its Potomac Capital Investment corp and the wind-down of its retail electric and retail natural gas supply business. In 2013 PHI’s revenues declined by 8%. Pepco Energy Services revenues decreased due to lower energy savings construction activities and the retirement of the two oil-fired generation facilities.

PHI posted a net loss of $212 million in 2013 (compared to a net income of $285 million in 2012) due to lower revenues and a major loss from discontinued operations.

In 2013 the company’s operating cash inflow decreased to $497 million (from $592 million in 2012) as the result of a net loss and a change in the working capital due to cash spent on income tax-related prepayments.


PHI's flexible business strategy allows it to develop opportunities for growth or operational streamlining in both its regulated and unregulated segments.

In 2013 PHI terminated its interest in its cross-border energy lease investments and the cross-border energy lease investments were then accounted for as discontinued operations. That year Pepco Energy Services exited its retail electric supply business by terminating its remaining customer supply and wholesale purchase obligations beyond 2013.

Mergers and Acquisitions

Exelon agreed to buy the financially challenged company in 2014. The combination of PHI and Exelon will bring together Exelon’s three electric and gas utilities – BGE, ComEd, and PECO – and PHI’s three electric and gas utilities – Atlantic City Electric, Delmarva Power, and Pepco – to create the leading mid-Atlantic electric and gas utility.

Company Background

Growing its renewable portfolio to meet tightening carbon emission regulations, in 2012 Delmarva Power announced that it will get 38 MW of wind energy and associated renewable energy credits from enXco's Chestnut Flats wind farm in Pennsylvania.

In 2010 PHI sold its Conectiv Energy power plant assets to Calpine for about $1.7 billion. The deal moved it out of the merchant power business to free up cash, and allowed the company to focus on its core regulated energy distribution businesses. 

Pepco Holdings, formerly named Potomac Electric Power, changed its name by forming a holding company in 2002; the name change took effect upon the completion of Pepco's acquisition of rival utility Conectiv (now Delmarva Power & Light).

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Pepco Holdings, Inc.

701 9th St Nw
Washington, DC 20001-4572
Phone: 1 (202) 872-2000


  • Employer Type: Public
  • Stock Symbol: POM
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Joseph M. Rigby
  • VP and CIO: Doug Myers
  • Chairman, President, and CEO: Joseph M. Rigby

Major Office Locations

  • Washington, DC

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