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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
<B><U>November 14, 2013</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 12pt; color: black"><B>POTOMAC ELECTRIC POWER COMPANY</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 48%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>District of Columbia and Virginia</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-01072</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>53-0127880</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">File Number)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification No.)</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 68%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>701 Ninth Street, N.W., Washington, DC</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>20068</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant's telephone number, including area
code &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>(202) 872-2000</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>Not Applicable</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Former name or former address, if changed since last report.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 7%; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="width: 93%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 7%; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="width: 93%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="width: 93%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="width: 93%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Potomac Electric Power Company (the Company) has entered into a
Purchase Agreement, dated November 14, 2013 (the Purchase Agreement), with Barclays Capital Inc., Credit Suisse Securities (USA)
LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated and Scotia Capital (USA) Inc., as representatives (collectively, the
Representatives) of the several underwriters named therein (collectively, the Underwriters), for the offer and sale of $150,000,000
in aggregate principal amount of the Company&rsquo;s First Mortgage Bonds, 4.95% Series due November 15, 2043 (the Bonds) in an
underwritten offering registered on a Registration Statement on Form S-3 (Registration No. 333-190917-03), which was filed with
the Securities and Exchange Commission on August 30, 2013 (the Offering). The Purchase Agreement is filed herewith as Exhibit 1.1
and the form of Bond is filed herewith as Exhibit 4.1. The Bonds are initially being offered to the public at a price of 99.259%
of the principal amount. At the closing of the Offering, which is scheduled to occur on November 21, 2013, the Company will realize,
after deduction of the underwriting discount of 0.875% of the principal amount and before deduction of Offering expenses, net proceeds
of approximately $147.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Bonds will be issued under the Mortgage and Deed of Trust, dated
July 1, 1936, between the Company and The Bank of New York Mellon, as successor trustee (the Mortgage Trustee), as amended and
supplemented from time to time, including pursuant to the Supplemental Indenture, dated as of November 14, 2013 (the Supplemental
Indenture), relating to the issuance of the Bonds (the Mortgage). Subject to the exceptions and limitations contained in the Mortgage,
the Bonds will be secured, together with all bonds now or hereafter issued, under the Mortgage, by a first lien (subject to certain
leases, permitted liens and other minor matters) on substantially all of the Company&rsquo;s real and personal property and franchises.
A copy of the Supplemental Indenture is filed herewith as Exhibit 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company may redeem all or any portion of the Bonds at its option,
at any time prior to their maturity, at the redemption price described below. The Company will give notice of its intent to redeem
the Bonds at least 30 days, but no more than 60 days, prior to the redemption date. If the Company redeems all or any part of the
Bonds as described above prior to May&nbsp;15, 2043, the Company will pay a redemption price equal to the greater of (i) 100% of
the principal amount of the Bonds being redeemed; and (ii) a make-whole amount as set forth in the Supplemental Indenture, plus,
in each case, accrued and unpaid interest on such Bonds to the redemption date. If the Company redeems all or any part of the Bonds
pursuant to the provisions thereof on or after May&nbsp;15, 2043, the Company will pay a redemption price equal to 100% of the
principal amount of the Bonds being redeemed plus accrued and unpaid interest thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company intends to use the net proceeds from the Offering to
repay its outstanding commercial paper, including commercial paper issued to repay in full at maturity $200,000,000 in aggregate
principal amount of the Company&rsquo;s 4.95% Senior Notes due November 15, 2013, plus accrued and unpaid interest thereon, and
the remainder, if any, for general corporate purposes. These Senior Notes are secured by a like principal amount of a corresponding
series of the Company&rsquo;s First Mortgage Bonds, 4.95% Collateral Series, due November 15, 2013, issued under the Mortgage (the
Maturing Bonds). Under the Mortgage, the Maturing Bonds are deemed to be satisfied when the Senior Notes are repaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The legality opinion of Kevin C. Fitzgerald, Esq., Executive Vice
President and General Counsel of the Company, relating to the issuance of the Bonds, is filed herewith as Exhibit 5.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In the ordinary course of business, the Underwriters and their respective
affiliates have from time to time performed and may in the future perform various financial advisory, commercial banking, investment
banking services and asset leasing for the Company and its affiliates, for which they received, or will continue to receive, customary
fees or compensation. In addition, affiliates of certain of the Representatives are dealers under the Company&rsquo;s commercial
paper program and affiliates of the Representatives are lenders under the Company&rsquo;s primary credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Underwriters and their respective affiliates may also, in the
ordinary course of their various business activities, make or hold a broad array of investments and actively trade debt and equity
securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers, and such investment and securities activities may involve securities and instruments of the Company
or its affiliates. Certain of the Underwriters and their affiliates that have a lending relationship with the Company routinely
hedge, and certain other of those Underwriters or their affiliates may hedge, their credit exposure to the Company consistent with
their customary risk management policies. The Underwriters and their respective affiliates may also make investment recommendations
or publish or express independent research views in respect of such securities or financial instruments and may at any time hold,
or recommend to clients that they acquire, long or short positions in such securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following exhibits are filed herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 85%; border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description of Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">1.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Purchase Agreement, dated November 14, 2013, among the Company and Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated and Scotia Capital (USA) Inc., as representatives of the several Underwriters named therein</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Form of First Mortgage Bond, 4.95% Series due November 15, 2043, (included in Exhibit 4.2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Supplemental Indenture, dated as of November 14, 2013, with respect to the Mortgage and Deed of Trust, dated July 1, 1936</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Opinion of Kevin C. Fitzgerald, Esq.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt; color: black">POTOMAC ELECTRIC POWER COMPANY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black">Date: November 15, 2013</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font-size: 10pt; color: black">/s/ Fred Boyle</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Frederick J. Boyle</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice President and Chief&nbsp;Financial&nbsp;Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 85%; border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description of Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">1.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Purchase Agreement, dated November 14, 2013, among the Company and Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated and Scotia Capital (USA) Inc., as representatives of the several Underwriters named therein</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Form of First Mortgage Bond, 4.95% Series due November 15, 2043, (included in Exhibit 4.2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Supplemental Indenture, dated as of November 14, 2013, with respect to the Mortgage and Deed of Trust, dated July 1, 1936</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Opinion of Kevin C. Fitzgerald, Esq.</FONT></TD></TR>
</TABLE>
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[{"type": "8-K", "sequence": "1", "filename": "t1300643_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 26335}]
{"company-data": {"conformed-name": "POTOMAC ELECTRIC POWER CO", "cik": "0000079732", "assigned-sic": "4911", "irs-number": "530127880", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-01072", "film-number": "131224177"}, "business-address": {"street1": "701 NINTH STREET, NW", "street2": "OFFICE OF CORPORATE SECY., ROOM 1300", "city": "WASHINGTON", "state": "DC", "zip": "20068", "phone": "2028722000"}, "mail-address": {"street1": "701 NINTH STREET, NW", "street2": "OFFICE OF CORPORATE SECY., ROOM 1300", "city": "WASHINGTON", "state": "DC", "zip": "20068"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 14, 2013
POTOMAC ELECTRIC POWER COMPANY
(Exact name of registrant as specified in its charter)
District of Columbia and Virginia
001-01072
53-0127880
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
701 Ninth Street, N.W., Washington, DC
20068
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area
code
(202) 872-2000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01            Entry into a Material Definitive Agreement.
Potomac Electric Power Company (the Company) has entered into a
Purchase Agreement, dated November 14, 2013 (the Purchase Agreement), with Barclays Capital Inc., Credit Suisse Securities (USA)
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc., as representatives (collectively, the
Representatives) of the several underwriters named therein (collectively, the Underwriters), for the offer and sale of $150,000,000
in aggregate principal amount of the Company's First Mortgage Bonds, 4.95% Series due November 15, 2043 (the Bonds) in an
underwritten offering registered on a Registration Statement on Form S-3 (Registration No. 333-190917-03), which was filed with
the Securities and Exchange Commission on August 30, 2013 (the Offering). The Purchase Agreement is filed herewith as Exhibit 1.1
and the form of Bond is filed herewith as Exhibit 4.1. The Bonds are initially being offered to the public at a price of 99.259%
of the principal amount. At the closing of the Offering, which is scheduled to occur on November 21, 2013, the Company will realize,
after deduction of the underwriting discount of 0.875% of the principal amount and before deduction of Offering expenses, net proceeds
of approximately $147.6 million.
The Bonds will be issued under the Mortgage and Deed of Trust, dated
July 1, 1936, between the Company and The Bank of New York Mellon, as successor trustee (the Mortgage Trustee), as amended and
supplemented from time to time, including pursuant to the Supplemental Indenture, dated as of November 14, 2013 (the Supplemental
Indenture), relating to the issuance of the Bonds (the Mortgage). Subject to the exceptions and limitations contained in the Mortgage,
the Bonds will be secured, together with all bonds now or hereafter issued, under the Mortgage, by a first lien (subject to certain
leases, permitted liens and other minor matters) on substantially all of the Company's real and personal property and franchises.
A copy of the Supplemental Indenture is filed herewith as Exhibit 4.2.
The Company may redeem all or any portion of the Bonds at its option,
at any time prior to their maturity, at the redemption price described below. The Company will give notice of its intent to redeem
the Bonds at least 30 days, but no more than 60 days, prior to the redemption date. If the Company redeems all or any part of the
Bonds as described above prior to May 15, 2043, the Company will pay a redemption price equal to the greater of (i) 100% of
the principal amount of the Bonds being redeemed; and (ii) a make-whole amount as set forth in the Supplemental Indenture, plus,
in each case, accrued and unpaid interest on such Bonds to the redemption date. If the Company redeems all or any part of the Bonds
pursuant to the provisions thereof on or after May 15, 2043, the Company will pay a redemption price equal to 100% of the
principal amount of the Bonds being redeemed plus accrued and unpaid interest thereon.
The Company intends to use the net proceeds from the Offering to
repay its outstanding commercial paper, including commercial paper issued to repay in full at maturity $200,000,000 in aggregate
principal amount of the Company's 4.95% Senior Notes due November 15, 2013, plus accrued and unpaid interest thereon, and
the remainder, if any, for general corporate purposes. These Senior Notes are secured by a like principal amount of a corresponding
series of the Company's First Mortgage Bonds, 4.95% Collateral Series, due November 15, 2013, issued under the Mortgage (the
Maturing Bonds). Under the Mortgage, the Maturing Bonds are deemed to be satisfied when the Senior Notes are repaid.
The legality opinion of Kevin C. Fitzgerald, Esq., Executive Vice
President and General Counsel of the Company, relating to the issuance of the Bonds, is filed herewith as Exhibit 5.1.
In the ordinary course of business, the Underwriters and their respective
affiliates have from time to time performed and may in the future perform various financial advisory, commercial banking, investment
banking services and asset leasing for the Company and its affiliates, for which they received, or will continue to receive, customary
fees or compensation. In addition, affiliates of certain of the Representatives are dealers under the Company's commercial
paper program and affiliates of the Representatives are lenders under the Company's primary credit facility.
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The Underwriters and their respective affiliates may also, in the
ordinary course of their various business activities, make or hold a broad array of investments and actively trade debt and equity
securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers, and such investment and securities activities may involve securities and instruments of the Company
or its affiliates. Certain of the Underwriters and their affiliates that have a lending relationship with the Company routinely
hedge, and certain other of those Underwriters or their affiliates may hedge, their credit exposure to the Company consistent with
their customary risk management policies. The Underwriters and their respective affiliates may also make investment recommendations
or publish or express independent research views in respect of such securities or financial instruments and may at any time hold,
or recommend to clients that they acquire, long or short positions in such securities and instruments.
Item 9.01            Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are filed herewith:
Exhibit No.
Description of Exhibit
1.1
Purchase Agreement, dated November 14, 2013, among the Company and Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc., as representatives of the several Underwriters named therein
4.1
Form of First Mortgage Bond, 4.95% Series due November 15, 2043, (included in Exhibit 4.2)
4.2
Supplemental Indenture, dated as of November 14, 2013, with respect to the Mortgage and Deed of Trust, dated July 1, 1936
5.1
Opinion of Kevin C. Fitzgerald, Esq.
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
POTOMAC ELECTRIC POWER COMPANY
Date: November 15, 2013
/s/ Fred Boyle
Name: Frederick J. Boyle
Title: Senior Vice President and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No.
Description of Exhibit
1.1
Purchase Agreement, dated November 14, 2013, among the Company and Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc., as representatives of the several Underwriters named therein
4.1
Form of First Mortgage Bond, 4.95% Series due November 15, 2043, (included in Exhibit 4.2)
4.2
Supplemental Indenture, dated as of November 14, 2013, with respect to the Mortgage and Deed of Trust, dated July 1, 1936
5.1
Opinion of Kevin C. Fitzgerald, Esq.
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