Power Markets Week

Retail marketer Pepco Energy Services has won a contract to improve energy efficiency at the Ridley School District in Pennsylvania. The 15-year deal is a performance contract, with PES financing the work and being paid by the school district through energy savings, which will be guaranteed. The contract will provide the school district with $6.5 million in savings, by reducing energy consumption by an estimated 33%, PES said. PES will install new boilers, chillers and windows in nine schools and two administrative buildings, in addition to other work. PES, based in Arlington, Va., said it has developed more than $500 million of performance contracts for 200 customers. The company is a subsidiary of Pepco Holdings.