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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE AT OF 1934
Date of Report (Date of earliest event reported): July 1, 2000
Registrant, State of
Incorporation, I.R.S. Employer
Commission File Number Address and Telephone Number Identification Number
---------------------- ---------------------------- ---------------------
1-1405 Delmarva Power & Light Company 51-0084283
(a Delaware and Virginia
Corporation)
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
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Item 5. Other Events
On July 1, 2000, after receipt of regulatory approvals, certain
electric generating assets of Delmarva Power & Light Company, a Delaware and
Virginia corporation and an operating public utility company ("DPL"), and of
Atlantic City Electric Company, a New Jersey corporation and an operating public
utility company ("ACE"), were transferred to other Conectiv affiliates. After
the sale of certain other generating assets, the principal remaining business of
DPL and ACE will be the provision of regulated electric transmission and
distribution services and, in the case of DPL, regulated gas distribution
services. The businesses of DPL and ACE will also include supplying electricity
to customers who do not choose an alternative electricity supplier. After the
sale of certain other generating assets, power purchased by DPL and ACE will be
the source of the electricity supplied to these customers.
Approximately 1,364 megawatts of DPL net generating capacity and 502
megawatts of ACE net generating capacity were transferred to subsidiaries at net
book value in exchange for common stock, followed by the declaration of a
capital dividend of the subsidiaries' common stock to Conectiv by DPL and ACE.
Conectiv has since contributed such common stock to a new Conectiv subsidiary
holding company named Conectiv Energy Holding Company ("CEH"). CEH and its
subsidiaries will be engaged in non-regulated electricity production and sales,
energy trading and marketing.
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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
Atlantic City Electric Company
By: Philip S. Reese
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Philip S. Reese
Vice President and Treasurer
Date: July 7, 2000
