DELMARVA POWER & LIGHT CO /DE/
8-K, 1999-04-14
ELECTRIC & OTHER SERVICES COMBINED
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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549




                                    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):  March 29, 1999




                         DELMARVA POWER & LIGHT COMPANY
               --------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)





   Delaware and Virginia                 1-1405                 51-0084283
- ----------------------------           -----------          ------------------
(State or Other Jurisdiction           (Commission            (IRS Employer
       of Incorporation)               File Number)         Identification No.)




800 King Street, P.O. Box 231, Wilmington, Delaware              19899
- ---------------------------------------------------           ----------
(Address of Principal Executive Offices)                      (Zip Code)




Registrant's Telephone Number, Including Area Code  302-429-3525



                                      None
          ------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report



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Item 5. Other Events


     As previously reported by the Company, the Delaware General Assembly passed
the Electric Utility Restructuring Act of 1999 (the "Delaware Act") on March 25,
1999. On March 31, 1999, the Governor of Delaware signed the Delaware Act. The
Company is scheduled to file a compliance plan with the Delaware Public Service
Commission by April 15, 1999.


               *               *               *               *


     As previously reported by the Company, electric utility restructuring
legislation was introduced in the Virginia General Assembly on January 21, 1999.
The Virginia General Assembly passed the Virginia Electric Utility Restructuring
Act (the "Virginia Act") on March 25, 1999. On March 29, 1999, the Governor of
Virginia signed the Virginia Act.


               *               *               *               *


     On April 2, 1999, the Maryland General Assembly passed legislation to
restructure the electric utility industry (the "Maryland Act"). On April 8,
1999, the Governor of Maryland signed the Maryland Act. The major elements of
the Maryland Act include:

*  Phase-in of retail choice beginning in July 2000, with full choice for all
   customers by July 2003;

*  Rate reductions of 3% to 7.5% for residential customers, with rates then
   "frozen" for four years;

*  The Company is not required to transfer or sell its generating assets, but 
   the Company's generating assets are deregulated if it sells such assets to a
   non-affiliate or transfers the assets to an affiliate prior to January 1, 
   2001;

*  Recovery of stranded costs and other costs associated with the transition to
   retail choice is permitted through a method to be determined by the Maryland
   Public Service Commission (MPSC);

*  No requirement that a municipal utility provide retail choice unless the
   municipal utility provides service to customers outside its service 
   territory;

*  Imposition by the MPSC of an environmental surcharge on each kilowatt hour
   distributed in the State.



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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
                                               (Registrant)



Date:     April 14, 1999                    /s/ Louis M. Walters
                                                 Treasurer





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