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DELMARVA POWER SEEKS FIRST ELECTRIC BASE RATE INCREASE SINCE 1987 FOR ITS WHOLESALE CUSTOMERS

 DELMARVA POWER SEEKS FIRST ELECTRIC BASE RATE INCREASE
 SINCE 1987 FOR ITS WHOLESALE CUSTOMERS
 WILMINGTON, Del., Dec. 20 /PRNewswire/ -- Delmarva Power & Light Co. (NYSE: DEW) today asked the Federal Energy Regulatory Commission for approval to increase electric base rates for its wholesale customers in Delaware, Maryland, and Virginia. The company is asking to increase revenues by $5 million or 5.3 percent, effective February 1992.
 Delmarva Power is asking for its first increase in base rates since July 1987. The increase is necessary to recover the costs of new power plants and equipment, be in compliance with environmental regulations, and to reverse a deterioration in earnings caused by growing expenses.
 Wholesale customers are municipalities and cooperatives which buy power from Delmarva Power for resale to their customers. The rates which Delmarva charges customers are regulated by the Federal Energy Regulatory Commission. Similar rate increases have been filed for Delaware and Maryland customers.
 During the last 4 1/2 years, several factors have worked to reduce rates, including local economic growth, lower interest rates, tax law changes and cost cutting by Delmarva Power.
 "Nobody likes to increase rates," said Jim Wittine, general manager, regulatory practice. "Since our last base rate increase request, employees have worked hard to keep rates down. However, to continue to serve customers in a reliable way in this growing area, we need to raise rates."
 -0- 12/20/91
 /CONTACT: Wallace C. Judd Jr. of Delmarva Power, 302-429-3595/
 (DEW) CO: Delmarva Power & Light Co. ST: Delaware IN: UTI SU:


EH-DM -- PH040 -- 4568 12/20/91 17:22 EST
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Publication:PR Newswire
Date:Dec 20, 1991
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