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Potomac Electric Reports Growth In Year-End Review
Potomac Electric Power Companys year end report shows 1970 kilowatt hour sales growth and major facility additions to assure dependable service Despite inflation fuel costs and financing pressures earnings should exceed 1969 though below 1968 highs Regulatory rate increases were approved to raise annual operating revenue by about 21 million Construction in 1970 totaled nearly 120 million including 77 million for production plant and 32 million for transmission and distribution Expenditures and assets surpassed 1 2 billion The company sold 35 million principal First Mortgage Bonds 85 percent Series and 30 million Serial Preferred Stock in 1970 to fund its program Projections include environmental upgrades such as sulphur dioxide removal at Dickerson Station over seven years and continued low sulphur fuels at in city stations 1969 US wine consumption noted at 20053 million gallons