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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTIONS 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 20, 1995
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DELMARVA POWER & LIGHT COMPANY
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(Exact Name of Registrant as Specified in Charter)
Delaware and Virginia I-1405 51-0084283
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
800 King Street, P.O. Box 231, Wilmington, Delaware 19899
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code 302-429-3448
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None
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
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The following information updates matters related to Salem Units 1 and
2 previously reported under "Item 1--Business" of Part I of Delmarva Power &
Light Company's (the Company) 1994 Annual Report on Form 10-K, "Item 5--
Other Information" of Part II of the Company's Report on Form 10-Q for the
quarter ended March 31, 1995, "Item 5--Other Events" of the Company's
Current Report on Form 8-K dated June 14, 1995, "Item 5--Other Information"
of Part II of the Company's Report on Form 10-Q for the quarter ended June
30, 1995, and "Item 5--Other Events" of the Company's Current Report on Form
8-K dated July 20, 1995. The following is excerpted from information
reported in the Current Report on Form 8-K dated October 17, 1995, by the
operator of the facility, Public Service Electric and Gas Company (PSE&G).
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As previously reported, Salem Unit 1 and Unit 2 were taken
out of service on May 16, 1995 and June 7, 1995, respectively.
PSE&G subsequently informed the Nuclear Regulatory Commission
(NRC) of its determination to keep the Salem Units shut down
pending review and resolution of certain equipment and management
issues, and NRC agreement that each unit is sufficiently prepared
to restart. On June 9, 1995, the NRC issued a Confirmatory
Action Letter documenting these commitments by PSE&G.
PSE&G, as previously reported, is engaged in a thorough
assessment of Salem to identify the scope of work necessary to
achieve safe, sustained and reliable operation. PSE&G has stated
that it will keep the units off line until it is satisfied that
they are ready to return to service and operate reliably over
the long term.
PSE&G has completed its rigorous examination of Salem Unit 1
and its assessment of Unit 2 is continuing. Work on the 46
systems critical to Salem 1 is continuing, including those common
with Unit 2, with more than 25% of necessary work activities
completed and many others initiated. While PSE&G had previously
estimated that Salem 1 would return to service in the first
quarter 1996, as a result of its completed assessment, PSE&G now
expects the Unit to return in the second quarter of 1996,
assuming receipt of required NRC authorization, as to which no
assurance can be given.
The work scope assessment for Unit 2 is currently scheduled
for completion in November 1995 for both Units. PSE&G expects to
present its final work scope assessment of both Units to the NRC
in mid-December 1995. Since, as previously indicated, some of
the work being performed relates to systems serving both Units,
the additional time needed for Unit 1 does not necessarily mean
that the current second quarter 1996 return estimate for Unit 2
will be also extended, although no assurance can be given. As
previously disclosed, during the outages Unit 1 will undergo a
previously scheduled refueling outage and Unit 2 will undergo a
partial refueling which will allow PSE&G to eliminate a full
refueling outage for Unit 2 scheduled for 1996.
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PSE&G now estimates that its share of additional 1995
operating and maintenance expenses associated with Salem restart
activities will amount to approximately $22 million, or a total
of $111 million of operating and maintenance expenses for the
year. The increase in the estimate results from additional
overtime expenses projected through year-end. Additional costs
for 1996 (net of previously budgeted amounts for the previously
scheduled 1996 refueling outage) will not be determined until
after the assessment of Unit 2 is complete and final restart
plans are developed. Replacement power costs incurred while the
units are out of service are expected to be approximately $5
million per month, per Unit. . . .
As previously reported, PSE&G has recently undertaken a
number of nuclear senior management changes. PSE&G is committed
to achieving high standards of safety and operational performance
for its nuclear program. PSE&G's objective is to restart and run
the Salem plants in accord with these standards so as to assure
long-term reliability and reduce overall production costs in
order to provide customers serviced by Salem with reliable and
economic energy.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Delmarva Power & Light Company
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(Registrant)
Date: October 20, 1995 /s/ B. S. GRAHAM
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Barbara S. Graham
Senior Vice President,
Treasurer and
Chief Financial Officer
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