For Immediate Release
FOR IMMEDIATE RELEASE
Contact: Tim Brown, 302-283-5803
Ken Parker named President, Atlantic City
Moves Signal Renewed Focus on Local Communities
Dennis Wraase, Chairman, President and CEO of Pepco Holdings
Inc. (PHI), the parent company of Conectiv Power Delivery, today
announced organizational and personnel changes designed to make the
power company more responsive to local customers and communities.
PHI has organized its business around the states and regions where
its customers are located and appointed new presidents for these
Kenneth Parker was appointed President, Atlantic City Electric
Region. Parker has more than 18 years of electric utility
experience, having joined Atlantic City Electric Company in 1986.
Most recently he served as Regional Vice President of Conectiv's
Atlantic Region. Atlantic City Electric serves approximately
510,000 customers in a 2,700 square mile area comprising the eight
counties of southern New Jersey.
Tom Shaw, currently Executive Vice President, PHI, has been
named to the additional post of Chief Operating Officer, PHI, with
expanded responsibilities for operations across all PHI
Wraase also announced the return to using the traditional
utility names-Delmarva Power and Atlantic City Electric-for the
Conectiv companies. The name change will be phased in gradually
through the balance of the year. Customers should continue to use
the Conectiv Power Delivery name on checks and correspondence until
they are notified through information enclosed with their electric
bill. Phone numbers will not change.
Wraase outlined several reasons for the changes.
"Organizationally, we want to focus on the unique needs of our
customers in the three distinct regions that PHI serves," he said.
"The presidents in each region will be responsible for interfacing
with our legislative, regulatory, government, business and
community stakeholders and coordinating with operations to ensure
that we are providing safe and reliable service based on the
particular needs of customers in their area."
The rationale for changing the names was similar, added Wraase.
"We believe the traditional utility names better reflect our ties
to the local communities we serve and more clearly communicate who
we are. The Conectiv name was introduced at a time when the company
was expanding into non-utility lines of business. This is no longer
the case; going forward, the utility business, which makes up 70%
of our revenues, will be our major focus. Also, we have always used
the traditional utility names in legal filings and reports to the
investment community. For consistency it makes sense to use the
same names with our customers."
"I look forward to this opportunity to work with the local
communities in southern New Jersey to ensure we are responsive to
their needs," Parker said.
Wraase also appointed Gary Stockbridge, President, Delmarva
Power Region, and Thomas Graham, President, Pepco Region. Pepco is
the electric utility for the District of Columbia and surrounding
Maryland counties. All three companies will continue to be owned by
PHI. PHI's other subsidiaries, Conectiv Energy and Pepco Energy
Services, are not affected by the changes.
In 1998, Delmarva Power & Light Company and Atlantic Energy
merged. About then, the name Conectiv was created as part of a
business strategy to provide additional home services such as
telecommunications, which were later discontinued. In 2002, Pepco
acquired Conectiv and created the holding company, PHI.
Conectiv Power Delivery, a subsidiary of Pepco Holdings, Inc.
(NYSE: POM), provides safe, reliable and affordable regulated
electric or natural gas delivery services to more than one million
customers in New Jersey, Delaware, Maryland, and Virginia.