August 19, 2017 11:38 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 March 7, 2017, it served approximately 257,000 customers in 7 Maryland counties; and approximately 137,000 customers in the Eastern Panhandle of West Virginia. The company was founded in 1922 and is based 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: 75
Principal Financial Officer, Vice President and Director
Age: 58
President of West Virginia Operations
Age: 60
Chief Commercial Officer of Allegheny Energy Supply and VP of Strategic Planning of Allegheny Energy
Age: 57
Principal Accounting Officer and Controller
Age: 59
Compensation as of Fiscal Year 2017.

The Potomac Edison Company Key Developments

Potomac Edison Expects to Invest about $135 Million in 2017 on Distribution and Transmission Infrastructure Projects in Western Maryland and the Eastern Panhandle of West Virginia

FirstEnergy Corp. expects to invest about $135 million in 2017 on distribution and transmission infrastructure projects to help enhance service reliability for its customers in Potomac Edison's service area in western Maryland and the Eastern Panhandle of West Virginia. Major projects scheduled for 2017 include transmission enhancements to reinforce the system and support economic growth, constructing new distribution circuits, and inspecting and replacing utility poles and underground cables. FirstEnergy projects planned in the Potomac Edison footprint in 2017 include: Ongoing work to provide electrical service to the new Procter & Gamble consumer products manufacturing plant under construction in Berkeley County near Martinsburg, W.Va. The $8 million project includes a new distribution substation, upgrades to other nearby substations, and several power lines. About $4.7 million is expected to be spent on work this year, with the project scheduled for completion in 2018. Completing work on a new $5 million power line and substation project under construction in Hardy County, W.Va., along State Route 259 that will enhance service reliability for about 2,200 customers in the Baker and Mathias areas. The project will divide the existing 270-mile long circuit " the longest in Potomac Edison's service area " into three shorter segments and also improve service to a nearby compressor station for a major natural gas supply pipeline. Building a distribution substation in the Foxville area in Frederick County, Md., and constructing five miles of new distribution circuit that will enhance electric service reliability for about 1,200 customers in the Myersville and Wolfsville area. Construction of the $4 million project will start in 2017. Constructing a new $3 million distribution substation for the Jefferson Tech Park near Frederick, Md., to provide electric service capacity for more than 2 million square feet of commercial development. Work on the project is expected to start in 2017 and be completed in 2018. Building a new $2 million distribution substation in Montgomery County to serve residential and retail customers in the new Cabin Branch development in Clarksburg, Md. The substation will provide needed service capacity for about 3,500 homes and 1.4 million square feet of retail space. The work is scheduled to begin in 2017 and is expected to be completed in 2018. Replacing two transformers at a distribution substation near Mt. Airy, Md., at a cost of about $2.5 million to meet increased demand for electricity in the eastern edge of Potomac Edison's service area. The project should be completed in mid-2017 and will enhance service reliability for more than 3,400 customers, including residents of the new Preserve at Harvest Ridge housing development. Rebuilding a seven-mile transmission line connecting a substation near White Post, Va., to a substation near Front Royal, Va., at a cost of about $5.4 million. The project includes replacing about 50 wooden structures with new wooden structures, and replacing the wire with a larger diameter conductor to increase the capacity of the line. Construction started in January, with the project scheduled to be completed and in service by early June. This transmission system upgrade should enhance the regional grid and enhance service reliability for customers of two interconnected electric cooperatives in Virginia. Installing specialized voltage-regulating equipment in a transmission substation in Montgomery County, Md., near Damascus to support voltage on the regional transmission system. Started in February, the project also includes installation of a new breaker, air switches and bus work at a cost of about $460,000. The project is scheduled to be completed and in service by June 1, benefitting electric service for nearly 80,000 Potomac Edison customers in Frederick, Carroll and Montgomery counties. Upgrading equipment on about 266 distribution circuits throughout Potomac Edison's service area at an estimated cost of nearly $3 million. The enhancements 'installing new wire, cable and fuses' are expected to reinforce the electrical system and enhance reliability for nearly 400,000 customers in Maryland and West Virginia. Replacing underground distribution cables with new equipment. Work totaling more than $2.7 million is continuing in all areas of the service territory, with a focus in Frederick, Montgomery and Washington counties in Maryland. Spending $1.1 million to inspect and proactively replace or repair distribution and sub-transmission utility poles in the Potomac Edison service area. Approximately 24,000 utility poles will be inspected in 2017, with about 400 expected to be replaced or restored. About $3 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.

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.

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