ARLINGTON, VA - Pepco Energy Services, Inc., a subsidiary of Pepco Holdings, Inc. (NYSE: POM) and a leader in energy savings performance contracting, has been chosen by the Franklin County Housing Authority, headquartered in Chambersburg, Pennsylvania, to implement a comprehensive energy savings performance contract. The $3.9 million contract calls on Pepco Energy to install a variety of energy and water saving measures, including new heat pumps, which will save the Housing Authority more than $5.4 million over the 15-year contract term and will improve living conditions in over 300,000 sq. ft. of living space. The $10,777 in energy conservation improvements per unit is a state record and will be paid for entirely by the energy savings created by the project.
Source: Pepco Energy Services
"The energy efficiencies generated by the work provide wonderful benefits to the community, tenants and the housing authority," said Bonnie Zehler, Executive Director of the Franklin County Housing Authority. "The housing units are aging and are in need of upgrades to improve the heating and cooling of each unit. The old systems poured hot air in the second floors while the first floors were cold during winter months. The energy cost savings and quality of life improvements for tenants cannot be overstated. The Franklin County Housing Authority is quite pleased that subcontractors from the local area have been selected to complete much of the work."
The project will effectively result in an energy reduction of approximately 60 percent, and the Franklin County Housing Authority will reduce greenhouse gas emission by an estimated 730 metric tons of carbon dioxide per year.
"Pepco Energy is excited to work with the Franklin County Housing Authority to implement energy-saving measures that will positively impact the environment and increase its occupants' comfort," said John Huffman, President and Chief Executive Officer of Pepco Energy. Construction is currently underway and is due to be complete in April 2011.
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.