MAYS LANDING, N.J. (AFX) - Utility Atlantic City Electric said Friday it closed the $173 million sale of stakes in two power plants to Duquesne Light Holdings Inc.
The utility sold a 2.5 percent stake in Keystone Station and a 3.8 percent interest in Conemaugh Station, which are both in western Pennsylvania.
Atlantic City Electric said it will use the proceeds to offset the remaining balance, and plans to return the remainder to customers.
Shares of parent Pepco Holdings Inc. closed down 3 cents at $25.36 on the New York Stock Exchange.
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