Maryland Transit Administration Awards Pepco Energy $6.2 Million Energy Performance Contract
ARLINGTON, Va., Feb. 8, 2011 /PRNewswire/ — Pepco Energy Services, Inc., a subsidiary of Pepco Holdings, Inc. (NYSE: POM) and a leader in energy savings performance contracting, has been awarded a $6.2 million, 15-year energy savings performance contract by the Maryland Transit Administration (MTA).
Pepco Energy is installing energy conservation measures to help reduce the MTA’s energy consumption. These measures include lighting retrofits, occupancy sensors and daylight harvesting. Pepco Energy will also install a rooftop solar photovoltaic solar array for the Northwest Bus Division of the MTA.
“The Maryland Transit Administration constantly looks for ways to maximize energy efficiency in all of our operations,” said Ralign T. Wells, MTA Administrator and Chief Executive Officer. “Governor Martin O’Malley has encouraged all state agencies to go green and reduce government expenses, and the MTA is leading by example,” said Wells.
The MTA also received funding from the local utility rebate program and the Maryland Energy Administration Project Sunburst Grant Program to help finance the project.
The comprehensive energy conservation measures will impact more than 1 million square feet, which includes MTA property and building space at various Local Bus, Metro Subway and Light Rail and MARC Facilities.
“Pepco Energy is excited to work with the Maryland Transit Administration in revamping its energy infrastructure to improve its energy efficiency and increase user comfort,” said John Huffman, President and Chief Executive Officer of Pepco Energy.
“The Maryland Transit Administration will save more than $560,000 every year, or $9.4 million over the contract term,” said Vern Hartsock, MTA Deputy Director of Engineering. “The project will reduce carbon dioxide emissions by more than 2,800 metric tons annually and will decrease energy costs by approximately 13 percent.”
Construction began in January 2011 and is due to be complete in August 2011.
About Pepco Energy Services, Inc.
Pepco Energy Services, Inc., a wholly owned subsidiary of Pepco Holdings, Inc. (NYSE: POM), provides commercial, institutional, government and industrial customers with competitive energy efficiency services, including renewable energy and combined heat and power. Visit 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.
SOURCE Pepco Energy Services, Inc.