January 20, 2017 12:18 AM ET

Electric Utilities

Company Overview of The Potomac Edison Company

Company Overview

The Potomac Edison Company provides electric services. The company engages in the distribution and retail sale of electricity to residential, commercial, and industrial customers in Maryland and West Virginia. As of June 28, 2016, it served approximately 257,000 customers in seven Maryland counties; and approximately 137,000 customers in the Eastern Panhandle of West Virginia. The company was founded in 1922 and is headquartered in Williamsport, Maryland. The Potomac Edison Company is a subsidiary of FirstEnergy Corp.

10802 Bower Avenue

Williamsport, MD 21795

United States

Founded in 1922

Key Executives for The Potomac Edison Company

Chairman and Chief Executive Officer
Age: 74
Principal Financial Officer, Vice President and Director
Age: 57
President of West Virginia Operations
Age: 59
Chief Commercial Officer of Allegheny Energy Supply and Vice President of Strategic Planning of Allegheny Energy
Age: 56
Principal Accounting Officer and Controller
Age: 58
Compensation as of Fiscal Year 2016.

The Potomac Edison Company Key Developments

Public Service Commission of West Virginia Approves Settlement of Mon Power and Potomac Edison for Fuel Costs

Mon Power and Potomac Edison announced that the Public Service Commission of West Virginia has approved a settlement agreement allowing recovery of costs for fuel, purchased power expenses, energy efficiency programs and environmental controls incurred by the utilities to provide safe and reliable electricity to customers. While fuel and purchased power rates typically change annually, the settlement negotiated by the utilities, PSC Staff, the Consumer Advocate Division, and the West Virginia Energy Users Group stabilizes rates for the companies' West Virginia customers for two years. The new rates begin Jan. 1, 2017, and will remain in place until Dec. 31, 2018. Under a cost recovery process established by the PSC in 2007, Mon Power and Potomac Edison customer bills are adjusted annually to reflect increases or decreases in the cost of fuel used to generate electricity and purchase power. Mon Power and Potomac Edison do not profit from increased fuel and purchased power costs.

Potomac Edison Substation Project Underway to Accommodate Fast-Growing Howard, Frederick Counties in Maryland

Potomac Edison announced that it is upgrading equipment at a substation near Mt. Airy to help enhance service reliability for about 3,400 customers and meet increased electrical demand in the high-growth, eastern edge of its Maryland service area. The centerpiece of the $2.5 million substation project is replacing two distribution transformers with larger units that will increase the system's capacity and help power the new residential and commercial development planned for eastern Frederick and Howard counties, which includes the new Preserve at Harvest Ridge housing development near New Market. The substation upgrade includes the installation of two new breakers, a new substation control building, and the installation of automated and remote control devices designed to help reduce the number and duration of service interruptions. The first transformer was delivered to the substation earlier this month and is scheduled to be installed and operational by the end of the year 2016. The second transformer will be delivered and installed in early 2017. The transformers each measure 15 feet long by 13 feet wide by 14 feet tall, and weigh nearly 80,000 pounds. Overall, the project is expected to be completed by early 2017. The project is one of numerous distribution and transmission infrastructure projects totaling $128 million that FirstEnergy Corp. has planned in 2016 for the Potomac Edison service area.

Potomac Edison Power Announces Construction of New 34.5-Kilovolt

Potomac Edison begun construction of a new 34.5-kilovolt (kV) power line paralleling State Route 259 as part of a project to enhance service reliability for more than 2,200 customers in rural Hardy County, W.Va., including a nearby compressor station for a major natural gas pipeline. The new 14.5-mile power line is the centerpiece of the $5 million project, which will link an existing substation near Baker, W.Va., to a new substation that will be built in Mathias, W.Va., in 2017. Potomac Edison line crews currently are working in the Mathias area, setting 300 new 50-foot wooden utility poles that will carry the new line in existing right-of-way or new right-of-way near Route 259.

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