<PAGE> 1
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): September 7, 1999
Commission Registrant, State of Incorporation I.R. S. Employer
File Number Address and Telephone Number Identification Number
- ----------- ---------------------------- ---------------------
1-13895 Conectiv (a Delaware Corporation) 51-0377417
800 King Street
P.O. Box 231
Wilmington, Delaware 19899
Telephone (302) 429-3114
1-3559 Atlantic City Electric Company 21-0398280
(a New Jersey Corporation)
800 King Street
P.O. Box 231
Wilmington, Delaware 19899
Telephone (302) 429-3114
<PAGE> 2
Item 5. OTHER EVENTS
As previously reported by Conectiv and its subsidiary Atlantic City
Electric Company (ACE), on July 30, 1999, ACE made a conditional offer to a
non-utility supplier (in which an affiliate has a 50% interest), with which ACE
has a long-term power purchase contract, to terminate the power contract. The
conditional offer was modified on August 26, 1999 and accepted by the respective
parties, and remains subject to the receipt of corporate and regulatory
approvals. The termination of the power purchase contract would require a
payment in excess of $200 million by ACE to the power producer. The Company
intends at this time to issue stranded cost transition bonds to finance the
termination of power purchase contracts. Repayment of the stranded cost
transition bonds would be accomplished through the collection of a market
transition charge over the life of the bonds.
<PAGE> 3
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
Atlantic City Electric Company
Date: September 7, 1999 /s/ Philip S. Reese
Treasurer
