ARLINGTON, Va., Nov. 28 /PRNewswire/ -- Pepco Energy Services, a subsidiary of Pepco Holdings, Inc. and a leader in energy savings performance contracting, will implement a comprehensive energy performance contracting program for Salisbury University, located on the Eastern Shore of Maryland.
The 15-year contract calls for Pepco Energy Services to provide energy conservation measures in the majority of buildings, dormitories and facilities on the Salisbury campus. As part of the performance contract, Pepco Energy Services will design and build a new central chilled water plant, install high-efficiency lighting, provide comprehensive upgrades of the plumbing fixtures and complete building envelope work on 45 buildings throughout the campus. Final design efforts are underway, and construction is expected to be completed by the end of 2007.
"Salisbury University is delighted that the implementation of these energy conservation measures will significantly reduce energy consumption campus-wide while lowering our annual operating costs by well over $300,000 per year," said Greig Mitchell, Vice President of Administration and Finance at Salisbury University. "The energy saved would be sufficient to power over 1,600 homes annually."
"Pepco Energy Services is pleased to be providing Salisbury University with over $5 million in guaranteed savings on this project and helping the environment in the process," said John Huffman, President and Chief Operating Officer of Pepco Energy Services.
"This project represents a truly collaborative effort between Salisbury University, the University System of Maryland, the Department of General Services and Pepco Energy Services. There is a tremendous focus on reducing energy costs and consumption throughout the State, and our project at Salisbury University directly addresses these initiatives and guarantees the results," added David Weiss, President of the Performance Management Group of Pepco Energy Services.
Since 1995, Pepco Energy Services has developed, implemented and financed over $500 million of energy savings performance contracts for more than 200 customers, including the single largest energy savings performance contract ever awarded by the Federal Government -- a project for the Military District of Washington which includes Fort Meade, Maryland that will produce over $200 million of guaranteed energy savings.
Accredited by the National Association of Energy Service Companies (NAESCO), Pepco Energy Services has also completed energy savings performance contracts for many federal and state government agencies. Most recently, it has completed projects with the National Institutes of Health, the Washington, D.C. Convention Center, Howard County, Maryland Public Schools, as well as at multiple K-12 school districts in Maryland, Pennsylvania, Virginia, and West Virginia.
About Pepco Energy Services
Pepco Energy Services, Inc., a wholly owned subsidiary of Pepco Holdings, Inc. , provides commercial, institutional, government and industrial customers with competitive electricity and natural gas supply and energy efficiency services. Pepco Energy Services generates more than $1 billion of revenue annually. Visit http://www.pepcoenergy.com/ for more information.
Pepco Energy Services, Inc. is not the same company as Potomac Electric Power Company, and prices and services of Pepco Energy Services, Inc. are not set by the Public Service Commission.
Information contained in this news release may include forward-looking statements which should be considered in light of the risks inherent in the business of Pepco Holdings, Inc. and its subsidiaries, as discussed in public documents filed with the Securities and Exchange Commission.
