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Delmarva Power Signs Wind Energy Contracts

Tuesday, June 03, 2008

Long-Term Agreements Guarantee Low Cost Wind Power to Delaware customers

NEWARK, DE – Delmarva Power and Annapolis, Maryland-based energy supplier Synergics Wind Energy have signed long-term contracts under which Delmarva would purchase up to 100 megawatts of land-based wind power to help meet its renewable energy goals in Delaware.

The contracts provide Delmarva Power’s customers with wind energy and renewable energy credits (or “RECs”) at prices much lower than those offered under the Bluewater Wind offshore proposal.

“These contracts demonstrate that, with land-based wind power, we can obtain clean, renewable energy for our Delaware customers at extremely competitive prices and deliver it to them in the next 18 months,” said Delmarva Power Region President Gary Stockbridge.

“We are excited to work with Delmarva Power to bring this project to fruition. As Maryland’s first utility wind project, this step is further evidence that western Maryland can help to meet our region’s growing need for power,” said Wayne Rogers, the Chairman of Synergics Wind Energy. “We are proud to be providing both a solution to our energy needs and addressing the pressing issue of global warming.”

Delmarva Power has executed two 20-year contracts with Synergics, one for up to 40 megawatts of wind energy and renewable energy credits, beginning service in 2009, and the other for up to 60 megawatts of wind energy and renewable energy credits, beginning service in 2010.

The agreements with Synergics represent part of a portfolio of wind energy contracts that Delmarva Power is pursuing for its Delaware residential and small business customers. Contract negotiations are under way for obtaining additional land-based wind energy and RECs and will be announced in the near future. When final, all contractual agreements will be made available on the company’s Web site, www.delmarva.com.

All land-based wind contracts will be filed later this month with the Delaware Public Service Commission. They are subject to Commission approval.

Synergics, headquartered in Annapolis, Maryland, has been engaged in the development and operation of renewable energy facilities around the world for more than 25 years. The media contact for Synergics is: Katherine Dey, mobile phone: 202-329-0288; e-mail: kdey@synergics.com.

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Delmarva Power, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe and reliable energy to nearly 500,000 electric delivery customers in Delaware and Maryland and over 121,000 natural gas delivery customers in northern Delaware.