industry electric utility founded february 9 2001 ; 15 years ago 2001 02 09 headquarters washington d.c. u.s. key people david m. velazquez ceo chairman & president products electricity distribution energy related services number of employees 5 592 divisions atlantic city electric delmarva power pepco pepco energy services website pepcoholdings.com pepco holdings was a holding company incorporated in february 2001 for the purpose of affecting the acquisition of conectiv power delivery by potomac electric power company better known as pepco . the acquisition was completed on august 1 2002 at which time pepco and conectiv became wholly owned subsidiaries of phi . conectiv itself had been formed in 1998 to be the holding company of delmarva power & light company dpl better known as delmarva power and atlantic city electric company ace in connection with the combination of dpl and ace . in 2005 phi resumed the use of the delmarva power and ace brands for purposes of operations with the result that conectiv energy was the only remaining conectiv brand and was restricted for phi s energy production facilities . operations of the various companies controlled by pepco holdings take place in the mid atlantic states of the united states . pepco serves washington d.c. and its maryland suburbs delmarva power serves the delaware and maryland portions of the delmarva peninsula and atlantic city electric serves south jersey . 1 in 2008 delmarva power sold its service area in the virginia portion of the peninsula to a & n electric cooperative and old dominion electric cooperative for 44 million . 2 in april 2010 conectiv energy was sold to calpine corporation . 3 pepco holdings was placed at 283rd on the 2006 fortune 500 a list of american companies ranked by gross revenue . in 2010 the company paid only 10 % of the taxes it had paid in the previous year dropping from us 104 million to us 11 million . 4 the company experienced a doubling of operating profit in 2011 in part due to approved utility rate increases in the states of delaware maryland and new jersey along with washington dc . 4 contents 1 merger with exelon 2 criticism 3 restatement 4 references 5 external links merger with exelon edit exelon announced the proposed purchase of pepco holdings inc on april 30 2014 . the merger was rejected by the district of columbia public service commission in august 2015 though it was approved by other federal and state regulators . on march 23 2016 the merger with exelon was approved by the district of columbia public service commission under a revised set of terms . the merger was completed on that same day . 5 criticism edit in december 2011 the non partisan organization public campaign criticized pepco holdings for spending 3.76 million on lobbying and not paying any taxes during 2008 2010 instead getting 508 million in tax rebates despite making a profit of 882 million and increasing executive pay by 118 % to 9.7 million in 2010 for the top 5 executives . 6 restatement edit in 2006 pepco holdings restated its previously reported consolidated financial statements for the three and six months ended june 30 2005 to correct the accounting for certain deferred compensation arrangements . 7 references edit introduction to pepco holdings inc. phi . pepco holdings . retrieved april 21 2012 . delmarva power completes sale of virginia operations . pepco holdings . january 2 2008 . retrieved may 3 2012 . pepco holdings 2011 annual report a b aaron nathans 6 may 2011 . pepco reports profit of 64m in first 3 months . the news journal . wilmington delaware gannett . delawareonline . archived from the original on 7 may 2011 . retrieved 7 may 2011 . anu passary march 25 2016 . exelon closes 6.8 billion merger with pepco following thumbs up from regulators . tech times . retrieved june 28 2016 . portero ashley . 30 major u.s. corporations paid more to lobby congress than income taxes 2008 2010 . international business times . archived from the original on 26 december 2011 . retrieved 26 december 2011 . securities and exchange commission washington d.c. 20549 form 10 q . external links edit pepcoholdings.com v t e power stations in maryland coal fired generating stations brandon shores chalk point crane dickerson wagner luke mill morgantown smith closed warrior run oil fired peaking stations chalk point dickerson easton power plant wagner morgantown perryman philadelphia road generating station vienna natural gas stations easton power plant gould street wagner notch cliff generating station panda brandywine power plant perryman riverside rock springs generation facility westport generating station hydroelectric dams conowingo deep creek wind farms criterion wind project waste to energy montgomery county resource recovery facility wheelabrator incinerator nuclear plants calvert cliffs energy terminals cove point operators aes corporation exelon nrg energy pjm interconnection raven power talen energy waste management companies bge central maryland pepco delmarva & washington metro area old dominion electric cooperative western maryland southern maryland electric cooperative southern maryland retrieved from https en.wikipedia.org w index.php title pepco holdings & oldid 729959392 categories companies listed on the new york stock exchangepower companies of the united statesholding companies established in 2001companies based in washington d.c. 2001 establishments in washington d.c. navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch edit links this 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