Join the conversation!

Monday, January 31, 2011

Pepco’s Shocking Profits

By Hans Riemer
At-large Member, Montgomery County Council

The first winter storm of 2011 has revealed once again what Montgomery County residents know too well: Pepco is incapable of restoring power outages in a reasonable period of time.

Surprising, then, that Pepco is as profitable as ever. Just last October -- despite a year of intense criticism about failing service -- Pepco raised its estimated earnings per share for 2010 by up to 38 percent.

The “thundersnow” began on Wednesday afternoon. According to Pepco officials, 127,000 Montgomery residents lost power by the following morning. Forty-eight hours after the storm hit, the Washington Post reported that 64,843 Montgomery residents were still without power – more than the combined total of 42,667 residents without power in all other Washington-area jurisdictions.