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<TITLE>Form 8-K</TITLE>
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<B><FONT SIZE=6 COLOR="#0000ff"><P ALIGN="CENTER">UNITED STATES</FONT><FONT SIZE=2 COLOR="#0000ff"><BR>
</FONT><FONT SIZE=2><BR>
<BR>
</FONT><FONT SIZE=4 COLOR="#0000ff">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D. C.   20549<BR>
</FONT><FONT SIZE=4><BR>
<BR>
</B></FONT></TD>
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<B><FONT SIZE=4><P ALIGN="CENTER">Form 8-K<BR>
<BR>
</B></FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT<BR>
<BR>
<BR>
<BR>
</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">PURSUANT TO SECTION 13 or 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
<BR>
<BR>
</FONT></TD>
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<FONT SIZE=2><P>Date of Report (Date of earliest event reported)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P ALIGN="CENTER">March 15, 2004<BR>
<BR>
<BR>
<BR>
</U></FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;POTOMAC ELECTRIC POWER COMPANY&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <BR>
</U>(Exact name of registrant as specified in its charter)<BR>
<BR>
<BR>
<BR>
</FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;District of Columbia and Virginia&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;001-01072&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Commission File &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53-0127880&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(I.R.S. Employer <BR>
Identification No.)<BR>
<BR>
<BR>
<BR>
</FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">701 Ninth Street, N. W., Washington, D. C<BR>
</U>(Address of principal executive offices</FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;20068&nbsp;&nbsp;&nbsp;<BR>
</U>(Zip Code)<BR>
<BR>
<BR>
<BR>
</FONT></TD>
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<FONT SIZE=2><P>Registrant's telephone number, including area code</FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">(202) 872-3526<BR>
<BR>
<BR>
</U></FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER"><BR>
&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;&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;&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;&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>(Former Name or Former Address, if Changed Since Last Report)<BR>
</FONT><B><FONT SIZE=2 COLOR="#0000ff">________________________________________________________________________________________</B></FONT></TD>
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<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=2><P ALIGN="RIGHT">Pepco&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Form 8-K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
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<FONT SIZE=2><P>Item 5.</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6 HEIGHT=25>
<U><FONT SIZE=2><P>Other Events</U>.</FONT></TD>
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<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=2><P>Potomac Electric Power Company (the "Company") has entered into a Purchase Agreement, dated March&nbsp;15, 2004, between the Company and Credit Suisse First Boston LLC and Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, on their own behalf and on behalf of Fleet Securities, Inc., SunTrust Capital Markets, Inc., BNY Capital Markets, Inc., Citigroup Global Markets Inc. and McDonald Investments Inc. (the "Purchase Agreement"), for the offer and sale of $175,000,000 in aggregate principal amount of 4.65% Senior Notes due April 15, 2014 and $100,000,000 in aggregate principal amount of 5.75% Senior Notes due April 15, 2034 (the "Senior Notes") issued under the Indenture, dated as of November 17, 2003, between the Company and The Bank of New York, as trustee.  The offer and sale of the Senior Notes are registered with the Securities and Exchange Commission on Registration Statement on Form S-3 (Registration No. 333-106209).</FONT></TD>
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<FONT SIZE=2><P>Item 7.</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6 HEIGHT=30>
<U><FONT SIZE=2><P>Financial Statements, <I>Pro Forma </I>Financial Information and Exhibits</U>.</FONT></TD>
</TR>
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<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6 HEIGHT=30>
<FONT SIZE=2><P>(c)&nbsp;&nbsp;&nbsp;Exhibits</FONT></TD>
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<TD WIDTH="17%" VALIGN="TOP" HEIGHT=37>
<U><FONT SIZE=2><P>Exhibit No.</U></FONT></TD>
<TD WIDTH="48%" VALIGN="TOP" COLSPAN=4 HEIGHT=37>
<U><FONT SIZE=2><P>Description of Exhibit</U></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=37>
<U><FONT SIZE=2><P>Reference</U></FONT></TD>
</TR>
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<TD WIDTH="17%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</FONT></TD>
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<FONT SIZE=2><P>Purchase Agreement.</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
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<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP" COLSPAN=4 HEIGHT=31>
<FONT SIZE=2><P>Form of Senior Note due 2014.</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
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<TD WIDTH="17%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP" COLSPAN=4 HEIGHT=31>
<FONT SIZE=2><P>Form of Senior Note due 2034.</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
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<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP" COLSPAN=4 HEIGHT=31>
<FONT SIZE=2><P>Supplemental Indenture.</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
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<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP" COLSPAN=4 HEIGHT=31>
<FONT SIZE=2><P>Opinion of Kirk J. Emge</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=31>
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
</TR>
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<U><FONT SIZE=2><P ALIGN="CENTER">Signatures</U></FONT></TD>
</TR>
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<FONT SIZE=2><P>&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.</FONT></TD>
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<U><FONT SIZE=2><P><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
March 23, 2004<BR>
</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DATE<BR>
</FONT></TD>
<TD WIDTH="60%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=2><P>POTOMAC ELECTRIC POWER COMPANY<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
By:&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;A. W. WILLIAMS&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>&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;Andrew W. Williams<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief Financial Officer</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER"><BR>
<BR>
<BR>
<BR>
<BR>
-2-<BR>
</FONT><B><FONT SIZE=2 COLOR="#0000ff">_________________________________________________________________________________________</B></FONT></TD>
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{"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": "04684599"}, "business-address": {"street1": "701 NINTH STREET, NW", "street2": "C/O JANET PARKER OR LINDA EPPERLY RM 841", "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"}}
Form 8-K
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)
March 15, 2004
POTOMAC ELECTRIC POWER COMPANY
(Exact name of registrant as specified in its charter)
District of Columbia and Virginia
(State or other jurisdiction
of incorporation)
001-01072
(Commission File      Number)
53-0127880
(I.R.S. Employer
Identification No.)
701 Ninth Street, N. W., Washington, D. C
(Address of principal executive offices
20068
(Zip Code)
Registrant's telephone number, including area code
(202) 872-3526
(Former Name or Former Address, if Changed Since Last Report)
________________________________________________________________________________________
Pepco
Form 8-K
Item 5.
Other Events
.
Potomac Electric Power Company (the "Company") has entered into a Purchase Agreement, dated March 15, 2004, between the Company and Credit Suisse First Boston LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, on their own behalf and on behalf of Fleet Securities, Inc., SunTrust Capital Markets, Inc., BNY Capital Markets, Inc., Citigroup Global Markets Inc. and McDonald Investments Inc. (the "Purchase Agreement"), for the offer and sale of $175,000,000 in aggregate principal amount of 4.65% Senior Notes due April 15, 2014 and $100,000,000 in aggregate principal amount of 5.75% Senior Notes due April 15, 2034 (the "Senior Notes") issued under the Indenture, dated as of November 17, 2003, between the Company and The Bank of New York, as trustee.  The offer and sale of the Senior Notes are registered with the Securities and Exchange Commission on Registration Statement on Form S-3 (Registration No. 333-106209).
Item 7.
Financial Statements,
Pro Forma
Financial Information and Exhibits
.
(c)   Exhibits
Exhibit No.
Description of Exhibit
Reference
1
Purchase Agreement.
Filed herewith.
4.1
Form of Senior Note due 2014.
Filed herewith.
4.2
Form of Senior Note due 2034.
Filed herewith.
4.3
Supplemental Indenture.
Filed herewith.
5
Opinion of Kirk J. Emge
Filed herewith.
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.
March 23, 2004
DATE
POTOMAC ELECTRIC POWER COMPANY
(Registrant)
By:
A. W. WILLIAMS
Andrew W. Williams
Senior Vice President and Chief Financial Officer
-2-
_________________________________________________________________________________________