Pepco Energy Services, a subsidiary of Pepco Holdings Inc. (POM), has won a $7.5 million competitive bid contract to apply energy efficiency retrofit at the One Judiciary Square facility in Washington, D.C. The contract was awarded by the District of Columbia’s Department of Real Estate Services (DRES).

Under the project, Pepco Energy Services will install a building management system, direct digital controls and HVAC upgrades. This project is expected to create 16 full-time construction jobs in the region along with providing financial and energy savings.

The One Judiciary building, owned and operated by the government of the District of Columbia, encompasses an area of 850,000 square feet. The building is one of the primary buildings of the D.C. government and hosts multiple D.C. agencies in mission-critical roles.

Despite the volume and complexity of the scope of internal work that Pepco Energy Services is providing, construction will be completed without disrupting the critical operations at the building. The One Judiciary Square retrofit project demonstrates the D.C. government’s commitment towards increasing the district’s energy efficiency.

This project is funded by American Recovery and Reinvestment Act capital and will assist the D.C. government in achieving its energy reduction and conservation goals. Construction began in early August and is expected to be completed within 18 months.

Headquartered in Washington, D.C., Pepco Holdings, through its two operating divisions, Power Deliver and Competitive Energy, involves in transmission and distribution of electricity as well as delivery and supply of natural gas.

Pepco Energy Services, a unit of Pepco Holdings, is a leading provider of deregulated energy and energy-related services for residential, small business and large commercial customers. Pepco Energy Services currently provides services to a region extending from North Carolina to Massachusetts and from New York to Tennessee and Illinois.

We have a Zacks #2 Rank for the stock, which indicates a short-term Buy rating. Our long-term recommendation on the stock is Neutral.
 
PEPCO HLDGS (POM): Free Stock Analysis Report
 
Zacks Investment Research