Delmarva Power’s reports purchases from diverse suppliers hit a record $190 million in 2023

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 Delmarva Power purchased $190 million in goods and services from diversity-certified suppliers in 2023, accounting for 40 percent of the company’s total purchases for the year.

That’s a $50 million increase from 2023 and a record for the Exelon company.

“Supplier diversity is just one of the ways we support our customers and local communities with more than energy,” said Rodney Oddoye, senior vice president of Government, Regulatory and External Affairs at Pepco Holdings, which includes Delmarva Power. “Our continued increase in investments with these valuable partners reinforces our commitment to the local communities that we proudly serve and supports local business growth, helping our communities thrive.”

The company’s Empowerment Academy, formerly known as Target 25, offers prospective suppliers a chance to gain insights into Delmarva Power’s procurement procedures and those of its parent company, Exelon. Since the establishment of the Empowerment Academy, Delmarva Power has graduated 10 diversity-certified suppliers and is seeking others..

In 2022, Exelon, Delmarva Power’s parent company, launched the Community Impact Capital Fund (CICF) in partnership with RockCreek, which has invested more than $8.4 billion in diverse firms over the last two decades. The CICF, formerly known as the Racial Equity Capital Fund, expands capital access to businesses that have traditionally been challenged in accessing and securing funding.

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Companies interested in working with Delmarva Power and other Exelon companies can register and provide information, including their diversity status, at exeloncorp.com/Suppliers.

Delmarva Power is a unit of Exelon, the nation’s largest utility company, serving more than 10 million customers. Delmarva Power serves 561,500 electric customers in Delaware and Maryland and approximately 140,000 natural gas customers in northern Delaware.

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