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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): August 31, 1999
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Commission Registrant, State of Incorporation I.R. S. Employer
File Number Address and Telephone Number Identification Number
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1-13895 Conectiv (a Delaware Corporation) 51-0377417
800 King Street
P.O. Box 231
Wilmington, Delaware 19899
Telephone (302) 429-3114
1-1405 Delmarva Power & Light Company 51-0084283
(a Delaware and Virginia Corporation)
800 King Street
P.O. Box 231
Wilmington, Delaware 19899
Telephone (302) 429-3114
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Item 5. OTHER EVENTS
As previously reported by Conectiv and its subsidiary, Delmarva Power &
Light Company ("Company"), on March 31, 1999, the governor of Delaware signed
the Electric Utility Restructuring Act of 1999 (the "Act"). Pursuant to the
requirements of the Act, on April 15, 1999, the Company submitted to the
Delaware Public Service Commission (the "DPSC") a compliance plan for the
implementation of retail choice in the Company's service area. On August 31,
1999, the DPSC issued its order with regard to the retail competition
restructuring plan filed by the Company. The DPSC stated that a more detailed
order would be issued at a later date. The DPSC order provides the following:
1) The DPSC approved the Company's proposed rate structure, thus
permitting the Company to recover $16 million in stranded
costs, and to reduce residential rates by 7.5%.
2) The DPSC ruled that the existing Code of Conduct remain in
place, conditioned upon the requirement that a new code be
litigated and in effect by the middle of the year 2000.
3) The DPSC approved, with minor modifications, the Company's
proposed shopping credits and rejected proposals for higher
shopping credits.
4) The DPSC order permits customers with demand below 300 kW to
choose an alternative electric supplier and to switch back to
the Company's default service without any time restrictions or
price differential. Customers with demand above 300 kW who
choose an alternative supplier and switch back to the
Company's default service must either, at the customer's
option, return to the Company's default service for a minimum
of 12 months or pay market prices.
5) The DPSC addressed, among other matters, the elimination of
several reporting requirements and technical issues around
enrollment, switching and billing, subject to further
proceedings in advance of full choice in October 2000.
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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.
CONECTIV
Delmarva Power & Light Company
Date: September 7, 1999 /s/ Philip S. Reese
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Treasurer
