Pepco Energy Services Selected by Appalachian State University to Implement Energy Savings Performance Contract
Project Will Provide Over $5.4 Million In Energy Infrastructure Paid By Guaranteed Energy Savings
Arlington, VA, November 20, 2009 - Pepco Energy Services, a subsidiary of Pepco Holdings, Inc. (NYSE:POM) and a leader in energy savings performance contracting, has been selected to implement a comprehensive energy performance contract program for Appalachian State University (ASU), located in Boone, North Carolina.
The 12-year contract calls for Pepco Energy Services to provide energy conservation measures in 15 buildings on the ASU campus. As part of the performance contract, Pepco Energy Services will install over 8,800 energy-efficiency lighting fixtures and water saving fixtures, replace and upgrade heating and air-conditioning systems, update building automation systems in nine buildings, install a solar thermal water heating system for the Varsity Gym and add LED lighting to the River Street parking deck. The project will also include an Energy Awareness program with a web site that will monitor how much energy is being used in buildings where energy efficiency measures have been performed.
With guaranteed annual energy savings exceeding $550,000 per year, this project will allow ASU to add over $5.4 Million in energy infrastructure paid by savings over the life of the contract. Construction has begun and is expected to be completed by the end of 2010.
"The contract with Pepco Energy Services will allow us to save energy and also meet energy savings mandated by state law," said Greg Lovins, ASU's Interim Vice Chancellor for Business Affairs. "We see this as a win-win situation for the university. We get the benefit of new equipment and new technology paid from energy savings."
"With a 30% reduction in ASU's annual energy and water consumption, the environment also wins by eliminating 2.3 million pounds of carbon dioxide from the atmosphere," added John Huffman, President and Chief Executive Officer of Pepco Energy Services.
Since 1995, Pepco Energy Services has developed, implemented and financed over $750 million of energy savings performance contracts for more than 300 customers. Accredited by the National Association of Energy Service Companies (NAESCO), Pepco Energy Services has completed energy savings contracts for numerous colleges and universities, including Pennsylvania State University-Altoona, Salisbury University, Catawba College, Western Piedmont Community College, and St. Andrews Presbyterian College.
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.
For More Information Contact
Kim Price
+1-703-253-1839
----------------------------------------
Pepco Energy Services
www.pepcoenergy.com
----------------------------------------
