History of Delmarva Power in Timeline

Delmarva Power is an energy company supplying electricity and natural gas to customers in Delaware and Maryland, specifically on the Delmarva Peninsula. It operates as a subsidiary of Exelon, a larger energy corporation.

1909: Company Founded as Delaware Power & Light

In 1909, Delaware Power & Light was founded to serve Delaware.

1943: Acquisition of Eastern Shore Public Service Company

In 1943, Delaware Power & Light acquired Eastern Shore Public Service Company, which served the Eastern Shore regions of Maryland and Virginia.

1966: Name Change to Delmarva Power & Light

In 1966, the company's name was changed to Delmarva Power & Light.

1972: Name Change to Delmarva Power

In 1972, the company's name was changed to Delmarva Power.

1981: Operation and Maintenance of St. Michaels Electric Utility

Between 1981 and 2006, Delmarva Power operated and maintained the municipally-owned St. Michaels Electric Utility under a lease agreement.

1994: Announcement to Acquire Conowingo Power Company

In 1994, Delmarva Power announced its intent to acquire Conowingo Power Company for $150 million.

June 19, 1995: Acquisition of Conowingo Power Company Completed

On June 19, 1995, Delmarva Power completed the acquisition of Conowingo Power Company, the Maryland retail electric subsidiary of PECO Energy Company, which served customers in Cecil and Harford counties.

1998: Acquisition of Atlantic Energy

In 1998, Delmarva Power acquired Atlantic Energy, which owned Atlantic City Electric in New Jersey, for $968 million.

2002: Acquisition by Potomac Electric Power Company

In 2002, Conectiv Power Delivery was acquired by the Potomac Electric Power Company for $5.4 billion, leading to the creation of Pepco Holdings.

2005: Reintroduction of Delmarva Power and Atlantic City Electric Names

In 2005, Pepco Holdings brought back the Delmarva Power and Atlantic City Electric names, replacing Conectiv Power Delivery.

October 15, 2006: Acquisition of St. Michaels Electric Utility by Choptank Electric Cooperative

On October 15, 2006, the St. Michaels Electric Utility was acquired by Choptank Electric Cooperative for $12.2 million, ending Delmarva Power's lease of the system.

2008: Sale of Virginia Service Area

In 2008, Delmarva Power sold its service area in the Virginia portion of the Delmarva Peninsula to A&N Electric Cooperative and Old Dominion Electric Cooperative for $44 million.

2012: Donations to Organizations

Since 2012, Delmarva Power had donated over $4.7 million to more than 750 organizations, supporting education, environment, arts, culture, and community development.

April 30, 2014: Exelon Announces Acquisition of Pepco Holdings

On April 30, 2014, Exelon announced that it would acquire Pepco Holdings, the parent company of Delmarva Power.

August 2015: Initial Rejection of Merger by District of Columbia Public Service Commission

In August 2015, the proposed merger was initially rejected by the District of Columbia Public Service Commission.

March 23, 2016: Exelon Acquisition of Pepco Holdings Completed

On March 23, 2016, the $6.8 billion acquisition of Pepco Holdings by Exelon was completed after approval from the District of Columbia Public Service Commission.

2018: Reduction of Power Rate Increase Request

In 2018, following a reduction in corporate tax rates, Delmarva Power announced that they were reducing their annual power rate increase request for Delaware by $26 million.