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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

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    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif; text-align: justify; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt; color: black">Date of Report (Date of earliest event reported):&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="color: black"><B>November 7, 2013</B></FONT></TD></TR>
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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>DELMARVA POWER &amp; LIGHT COMPANY</B></FONT></TD></TR>
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    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>Delaware and Virginia</B></FONT></TD>
    <TD STYLE="width: 2%; font-family: Times New Roman,serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-01405</B></FONT></TD>
    <TD STYLE="width: 2%; font-family: Times New Roman,serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>51-0084283</B></FONT></TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-size: 10pt; color: black">of incorporation)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Commission</FONT><BR>
<FONT STYLE="font-size: 10pt; color: black">File Number)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(IRS Employer</FONT><BR>
<FONT STYLE="font-size: 10pt; color: black">Identification No.)</FONT></TD></TR>
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    <TD STYLE="width: 66%; border-bottom: windowtext 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>500 North Wakefield Drive, 2nd Floor, Newark, DE</B></FONT></TD>
    <TD STYLE="width: 2%; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>19702</B></FONT></TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Zip Code)</FONT></TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Registrant's telephone number, including area code</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>(202) 872-2000</B></FONT></TD></TR>
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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black"><B>Not Applicable</B></FONT></TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Former name or former address, if changed since last report.)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

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

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    <TD STYLE="width: 7%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="width: 93%; font-family: Times New Roman,serif"><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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    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif"><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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    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif"><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>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Wingdings; color: black">&uml;</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif"><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,serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">Delmarva Power &amp; Light Company (the Company) has entered into a Purchase
Agreement, dated November 7, 2013 (the Purchase Agreement), with Citigroup Global Markets Inc., RBS Securities Inc., and Wells
Fargo Securities, LLC, as representatives of the several underwriters named therein (collectively, the Representatives), for the
offer and sale of $300,000,000 aggregate principal amount of the Company&rsquo;s First Mortgage Bonds, 3.50% Series due November
15, 2023 (the Bonds), in an underwritten offering registered on a Registration Statement on Form S-3 (Registration No. 333-190917-02),
which was filed with the Securities and Exchange Commission on August 30, 2013. The Purchase Agreement is filed herewith as Exhibit
1.1<FONT STYLE="font-family: Arial,sans-serif"> </FONT>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 99.958% of the principal amount. At the closing of the offering, which is scheduled to
occur on November 15, 2013, the Company will realize, after deduction of the underwriting discount of 0.65% of the principal amount
and before deduction of offering expenses, net proceeds of approximately $297.9 million.</P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">The Bonds will be issued under the Mortgage and Deed of Trust, dated October&nbsp;1,
1943, between the Company and The Bank of New York Mellon, as trustee (the Mortgage Trustee), as amended and supplemented from
time to time, including pursuant to the One Hundred Twelfth Supplemental Indenture, dated as of November 7, 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 the
conditions and limitations in the instruments through which the Company claims title to its properties and to excepted encumbrances
under the Mortgage) 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,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,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 90 days, prior to the redemption date. If the Company redeems all or any part of the
Bonds as described above prior to August 15, 2023, 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, but not including, the redemption date. If the Company redeems all
or any part of the Bonds on or after August 15, 2023, 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,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">The Company intends to use approximately $258.0 million of the net proceeds
of the offering to repay at maturity all of the $250.0 million in aggregate principal amount of its outstanding First Mortgage
Bonds, Series I 6.40% Series due December 1, 2013, plus accrued but unpaid interest thereon, and the remainder for general corporate
purposes. Pending such uses, the Company will use the net proceeds of the offering to repay its outstanding commercial paper, and
any remaining proceeds would be invested in short-term obligations.</P>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">The legality opinion of Kevin C. Fitzgerald, 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,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,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, asset
leasing and investment banking services for the Company and its affiliates, for which they received, or will continue to receive,
customary fees or compensation. In addition, affiliates of the several underwriters are lenders under the Company's primary credit
facility. Affiliates of certain of the Representatives are dealers under the Company&rsquo;s commercial paper program. Affiliates
of BNY Mellon Capital Markets, LLC, one of the</P>

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


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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">underwriters with respect to the offering, serve as the Mortgage Trustee
and as trustee under the Company&rsquo;s note indenture.</P>

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

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


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

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

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

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<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>Exhibits</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.45in">The following exhibits are filed herewith:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; border-collapse: collapse; font-size: 10pt; margin-left: 0.45in">
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    <TD STYLE="width: 18%; border-bottom: windowtext 1pt solid; padding-right: 0; padding-left: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif">Exhibit&nbsp;No.</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 80%; border-bottom: windowtext 1pt solid; padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman,serif">Description&nbsp;of&nbsp;Exhibit</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif">1.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman,serif">Purchase Agreement, dated November 7, 2013, among the Company and Citigroup Global Markets Inc., RBS Securities Inc., and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif">4.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman,serif">Form of First Mortgage Bond, 3.50% Series due November 15, 2023 (included in Exhibit 4.2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif; color: black">4.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman,serif">Supplemental Indenture, dated as of November 7, 2013, with respect to the Mortgage and Deed of Trust, dated October 1, 1943</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">5.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Opinion of Kevin C. Fitzgerald, Esq.</FONT></TD></TR>
</TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">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,serif; margin: 0"><B>&nbsp;</B></P>

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    <TD COLSPAN="3" STYLE="font-family: Times New Roman,serif; text-align: right; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt; color: black">&nbsp;&nbsp;DELMARVA POWER &amp; LIGHT COMPANY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt; color: black">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman,serif; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt; color: black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt; color: black">Date:</FONT></TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">November 8, 2013</FONT></TD>
    <TD STYLE="width: 23%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt; color: black">/s/ FRED BOYLE</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Frederick J. Boyle</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; padding-left: 40pt"><FONT STYLE="font-size: 10pt">and Chief Financial Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 7.65pt; text-align: center">INDEX TO EXHIBITS FILED HEREWITH</P>

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    <TD STYLE="width: 18%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif">Exhibit No.</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 80%; border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman,serif">Description of Exhibit</FONT></TD></TR>
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    <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,serif">1.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman,serif">Purchase Agreement, dated November 7, 2013, among the Company and Citigroup Global Markets Inc., RBS Securities Inc., and Wells Fargo Securities, LLC, 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: 10pt Times New Roman,serif">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman,serif">Form of First Mortgage Bond, 3.50% Series due November 15, 2023 (included in Exhibit 4.2)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman,serif; color: black">4.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman,serif">Supplemental Indenture, dated as of November 7, 2013, with respect to the Mortgage and Deed of Trust, dated October 1, 1943</FONT></TD></TR>
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    <TD STYLE="font-family: Times New Roman,serif; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt; color: black">5.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Opinion of Kevin C. Fitzgerald, Esq.</FONT></TD></TR>
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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 7, 2013
DELMARVA POWER & LIGHT COMPANY
(Exact name of registrant as specified in its charter)
Delaware and Virginia
001-01405
51-0084283
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
500 North Wakefield Drive, 2nd Floor, Newark, DE
19702
(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.
Delmarva Power & Light Company (the Company) has entered into a Purchase
Agreement, dated November 7, 2013 (the Purchase Agreement), with Citigroup Global Markets Inc., RBS Securities Inc., and Wells
Fargo Securities, LLC, as representatives of the several underwriters named therein (collectively, the Representatives), for the
offer and sale of $300,000,000 aggregate principal amount of the Company's First Mortgage Bonds, 3.50% Series due November
15, 2023 (the Bonds), in an underwritten offering registered on a Registration Statement on Form S-3 (Registration No. 333-190917-02),
which was filed with the Securities and Exchange Commission on August 30, 2013. 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 99.958% of the principal amount. At the closing of the offering, which is scheduled to
occur on November 15, 2013, the Company will realize, after deduction of the underwriting discount of 0.65% of the principal amount
and before deduction of offering expenses, net proceeds of approximately $297.9 million.
The Bonds will be issued under the Mortgage and Deed of Trust, dated October 1,
1943, between the Company and The Bank of New York Mellon, as trustee (the Mortgage Trustee), as amended and supplemented from
time to time, including pursuant to the One Hundred Twelfth Supplemental Indenture, dated as of November 7, 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 the
conditions and limitations in the instruments through which the Company claims title to its properties and to excepted encumbrances
under the Mortgage) 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 90 days, prior to the redemption date. If the Company redeems all or any part of the
Bonds as described above prior to August 15, 2023, 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, but not including, the redemption date. If the Company redeems all
or any part of the Bonds on or after August 15, 2023, 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 approximately $258.0 million of the net proceeds
of the offering to repay at maturity all of the $250.0 million in aggregate principal amount of its outstanding First Mortgage
Bonds, Series I 6.40% Series due December 1, 2013, plus accrued but unpaid interest thereon, and the remainder for general corporate
purposes. Pending such uses, the Company will use the net proceeds of the offering to repay its outstanding commercial paper, and
any remaining proceeds would be invested in short-term obligations.
The legality opinion of Kevin C. Fitzgerald, 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, asset
leasing and investment banking services for the Company and its affiliates, for which they received, or will continue to receive,
customary fees or compensation. In addition, affiliates of the several underwriters are lenders under the Company's primary credit
facility. Affiliates of certain of the Representatives are dealers under the Company's commercial paper program. Affiliates
of BNY Mellon Capital Markets, LLC, one of the
-
1
-
underwriters with respect to the offering, serve as the Mortgage Trustee
and as trustee under the Company's note indenture.
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.
-
2
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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 7, 2013, among the Company and Citigroup Global Markets Inc., RBS Securities Inc., and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein
4.1
Form of First Mortgage Bond, 3.50% Series due November 15, 2023 (included in Exhibit 4.2)
4.2
Supplemental Indenture, dated as of November 7, 2013, with respect to the Mortgage and Deed of Trust, dated October 1, 1943
5.1
Opinion of Kevin C. Fitzgerald, Esq.
-
3
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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.
DELMARVA POWER & LIGHT COMPANY
(Registrant)
Date:
November 8, 2013
/s/ FRED BOYLE
Name:  Frederick J. Boyle
Title:    Senior Vice President
and Chief Financial Officer
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4
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INDEX TO EXHIBITS FILED HEREWITH
Exhibit No.
Description of Exhibit
1.1
Purchase Agreement, dated November 7, 2013, among the Company and Citigroup Global Markets Inc., RBS Securities Inc., and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein
4.1
Form of First Mortgage Bond, 3.50% Series due November 15, 2023 (included in Exhibit 4.2)
4.2
Supplemental Indenture, dated as of November 7, 2013, with respect to the Mortgage and Deed of Trust, dated October 1, 1943
5.1
Opinion of Kevin C. Fitzgerald, Esq.
-
5
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