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As has been rumored for months, Delmarva Power entered into an agreement on June 14, 2007 to sell its Virginia Operations to A&N Electric Cooperative and Old Dominion Electric Cooperative for $45 million. Under terms of the agreement, A&N Cooperative will acquire all of Delmarva's distribution assets, as well as other related assets. Delmarva will continue to own and operate the 138 kV and 69 kV transmission lines near the border of Maryland and Virginia. Old Dominion will own and operate the remainder of the Virginia transmission assets. Conectiv Energy will continue to own/operate the generation facilities (peaking units), at both Bayview and Tasley substations.
This is contingent upon approval of the necessary regulatory agencies, and Delmarva anticipates the transfer of assets to be complete in the 4th quarter of 2007.
Local Union 1307 represents approximately 25 bargaining unit employees in the Exmore district. President David Adkins said "Obviously this news is most stressful on our affected brothers and sisters in the Exmore operating area. However, it is important for all our members to show them our unwavering support during this difficult time. Such decisions are the sole right of the company to make, and by that we must abide. The Union leadership has been, and will continue to be, in constant contact/ negotiations with the company regarding the Exmore employees. Our main focus centers on protecting their jobs, and making sure they are treated fairly; and with dignity and respect through out this process."
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