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<B><FONT SIZE=3><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
<BR>
<BR>
FORM 8-K<BR>
<BR>
<BR>
CURRENT REPORT<BR>
<BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934<BR>
</B><BR>
<BR>
Date of report (Date of earliest event reported): <B>May 9, 2005<BR>
</B><BR>
</FONT><B><BR>
</B><FONT SIZE=3><BR>
<B>PEPCO HOLDINGS, INC.</FONT><BR>
</B><FONT SIZE=3>(Exact Name of Registrant as Specified in Its Charter)<BR>
<BR>
<BR>
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<B><FONT SIZE=3><P ALIGN="CENTER">Delaware</B></FONT></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">001-31403</B></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">52-2297449</B></FONT></TD>
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<FONT SIZE=3><P ALIGN="CENTER">(State or Other Jurisdiction<BR>
of Incorporation)</FONT></TD>
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<FONT SIZE=3><P ALIGN="CENTER">(Commission File Number)</FONT></TD>
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<FONT SIZE=3><P ALIGN="CENTER">(IRS Employer<BR>
Identification No.)</FONT></TD>
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<FONT SIZE=3><P ALIGN="CENTER"><B>701 Ninth Street, N. W.<BR>
Washington, D. C. 20068</B><BR>
(Address of Principal Executive Offices) (Zip Code)<BR>
<BR>
<B>(202) 872-3526</B><BR>
(Registrant's Telephone Number, Including Area Code)<BR>
<BR>
<B>Not Applicable</B><BR>
(Former Name or Former Address, if Changed Since Last Report)<BR>
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<FONT SIZE=2><P><A NAME="node2"><A NAME="node4"></A></A>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:
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<FONT SIZE=2><P>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) <BR>
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<FONT SIZE=2><P>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) <BR>
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<FONT SIZE=2><P>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) <BR>
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<FONT SIZE=2><P>Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD>

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______________________________________________________________________________________<BR><BR><BR>
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<B><FONT SIZE=2><P>Item 2.02</B></FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=2>
<B><U><FONT SIZE=2><P>Results of Operations and Financial Condition<BR><BR>
</B></U></FONT></TD>
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<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;On May 9, 2005, Pepco Holdings, Inc. issued a news
release announcing its first quarter 2005 operating results.
The news release is furnished as Exhibit 99 to this Form 8-K.<BR><BR>
</FONT></TD>
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<B><FONT SIZE=2><P>Item 9.01</B></FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=2>
<B><U><FONT SIZE=2><P>Financial Statements and Exhibits.<BR><BR>
</B></U></FONT></TD>
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<FONT SIZE=2><P>(c)&nbsp;&nbsp;Exhibits.<BR><BR>
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<FONT SIZE=2><P ALIGN="CENTER">99&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
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<FONT SIZE=2><P>News Release of Pepco Holdings, Inc. dated May 9, 2005.</FONT></TD>
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<B><FONT SIZE=2><P ALIGN="CENTER">SIGNATURES<BR>
</B></FONT></TD>
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<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.<BR>
</FONT></TD>
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<TR><TD WIDTH="50%" VALIGN="TOP">&nbsp;</TD>
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<B><FONT SIZE=2><P>PEPCO HOLDINGS, INC.</B><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;Joseph M. Rigby&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Joseph M. Rigby<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Officer<BR>
<BR>
<B>Date</B>:  May 9, 2005</FONT></TD>
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____________________________________________________________________________________________<BR>
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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):
May 9, 2005
PEPCO HOLDINGS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
001-31403
52-2297449
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
701 Ninth Street, N. W.
Washington, D. C. 20068
(Address of Principal Executive Offices) (Zip Code)
(202) 872-3526
(Registrant's Telephone Number, Including Area Code)
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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
______________________________________________________________________________________
Item 2.02
Results of Operations and Financial Condition
On May 9, 2005, Pepco Holdings, Inc. issued a news
release announcing its first quarter 2005 operating results.
The news release is furnished as Exhibit 99 to this Form 8-K.
Item 9.01
Financial Statements and Exhibits.
(c)  Exhibits.
99
News Release of Pepco Holdings, Inc. dated May 9, 2005.
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.
PEPCO HOLDINGS, INC.
By:
/s/   Joseph M. Rigby
Name:  Joseph M. Rigby
Title:    Senior Vice President and Chief
Financial Officer
Date
:  May 9, 2005
2
____________________________________________________________________________________________