“Our third quarter financial results reflect continued progress on executing our strategic plan, including our investments in Power Delivery infrastructure to improve system reliability and customer service. The gain on the early termination of certain cross-border energy leases also contributed to higher earnings,” said Joseph M. Rigby, Chairman, President and Chief Executive Officer. “Over the next five years, we expect to spend approximately $5.9 billion on investments aimed at improving system reliability, enhancing customer service, and installing advanced technologies. Investments such as these are important components of our strategy to provide value to our customers and investors.”Rigby continued by noting that it is critically important to the Company that the regulators ensure timely cost recovery and the opportunity to earn reasonable rates of return on Pepco Holdings’ extensive investments. “As we complete our current round of distribution rate cases this year, we recognize that an additional cycle of rate cases across the jurisdictions we serve is necessary to help keep the rate of cost recovery in line with our rate of investment. Reducing regulatory lag will continue to be a significant focus going forward.”
Pepco Holdings Reports Third-Quarter 2012 Financial Results; Narrows 2012 Earnings Guidance Range
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