PJM Board Approves PHI's Proposed
Interstate Transmission Line
Oct 17, 2007 - BUSINESS WIRE
PJM Interconnection, operator of the
Mid-Atlantic power grid, today approved Pepco Holdings,
Inc.'s (NYSE:POM) proposal to build a 230-mile interstate
power line to enhance electric reliability and improve
transmission capacity in one of most heavily congested
regions of the country.
Approval by PJM's board of managers
is a major step forward for this project, allowing
an extensive permitting and environmental review
process before construction of the approximately
$1 billion transmission line begins.
The 500-kilovolt line, known as the
Mid-Atlantic Power Pathway (MAPP), will connect
Northern Virginia to Maryland, cross the Delmarva
Peninsula and link with the power grid in southern
New Jersey. It is designed to provide electricity
to meet customer demand, now and in the future as
each phase of the line is completed over a planned
seven-year timetable. By increasing transmission
capacity, MAPP also will provide access to more
affordable power generation sources for PHI's nearly
two million customers, creating an annual savings
of about $125 million.
"We are pleased with PJM's decision
to approve this proposed transmission line, which
will provide the Mid-Atlantic region with an expanded
power grid that can meet the rising demand for electricity,"
said William Gausman, PHI Vice President, Asset
Management. "MAPP is necessary not only for the
well-being of the Mid-Atlantic region's power grid,
but also for every jurisdiction along the line."
A majority of the line will be built
along, or adjacent to, existing right-of-way and
incorporate environmentally responsible construction
techniques. "Our careful planning will include significant
community involvement," said Gausman. "We look forward
to working with communities during the design, permitting
and siting processes to ensure that the construction
of MAPP protects the environment and minimizes disruption
to residents and businesses along the route," he
Gausman noted that this line will
complement the full range of energy options that
are being considered to address future energy demand.
"This new transmission line is part of the answer
to meet the region's electricity needs. We must
also continue to stress the importance of energy
conservation and environmentally-responsible new
power generation to ensure that the region has a
reliable supply of electricity," said Gausman.
Demand for power during peak usage
times in PHI's four-state service area is projected
to increase by nearly 20 percent over the next 10
About PHI: Pepco Holdings, Inc., headquartered
in Washington, D.C., delivers electricity and natural
gas to about 1.9 million customers in Delaware,
the District of Columbia, Maryland, New Jersey and
Virginia. Through its subsidiaries Pepco, Delmarva
Power and Atlantic City Electric, PHI delivers regulated
electricity and natural gas service. PHI provides
competitive wholesale generation services through
Conectiv Energy and retail energy products and services
through Pepco Energy Services. Forward-Looking Statements:
Except for historical statements and discussions,
the statements in this news release constitute "forward-looking
statements" within the meaning of federal securities
law. These statements contain management's beliefs
based on information currently available to management
and on various assumptions concerning future events.
Forward-looking statements are not
a guarantee of future performance or events. They
are subject to a number of uncertainties and other
factors, many of which are outside the company's
control. Factors that could cause actual results
to differ materially from those in the forward-looking
statements herein include general economic, business
and financing conditions; availability and cost
of capital; changes in laws, regulations or regulatory
policies; weather conditions; competition; governmental
actions; and other presently unknown or unforeseen
factors. These uncertainties and factors could cause
actual results to differ materially from such statements.
PHI disclaims any intention or obligation to update
or revise any forward-looking statements, whether
as a result of new information, future events or
otherwise. This information is presented solely
to provide additional information to further understand
the results and prospects of PHI.
SOURCE: Pepco Holdings, Inc.