Pepco's Supplier Diversity Program 2023 Errata and Annual Report

Strategic Insights -

Pepco Holdings, the parent company of Pepco and Delmarva Power, has released an errata to its Supplier Diversity Program 2023 Annual Report, correcting a significant error in the reported Tier 1 CBE spend for construction services. The corrected amount of $117,569,313 is a substantial reduction from the initially reported $162,887,034. This development underscores the importance of transparency and accuracy in corporate reporting, particularly in the realm of supplier diversity initiatives.

Key Takeaways:

  • The errata corrects a significant error in Pepco's Supplier Diversity Program 2023 Annual Report, revising the Tier 1 CBE spend for construction services from $162,887,034 to $117,569,313.
  • The correction affects the reported expenditure for the period January 2023 - December 2023.
  • Pepco will file an errata to correct Attachment E of the 2023 Diversity Supplier Annual Report.
  • Dennis P. Jamouneau, Assistant General Counsel at Pepco Holdings, signed the errata on June 9, 2025, and attached it to a letter addressed to Ms. Brinda Westbrook-Sedgwick, Commission Secretary at the Public Service Commission of the District of Columbia.
  • The Supplier Diversity Program 2023 Annual Report was submitted by Vernice Lewis, Director of Diverse Business Empowerment at Exelon Corporation.
  • The report is dated June 9, 2025, and contains an executive summary, diverse procurement expenditures, calendar year 2023 annual plan, program activities, prime contractors' utilization of diverse subcontractors, recruitment activities, and document retention.

Statistics:

  • The corrected Tier 1 CBE spend for construction services is $117,569,313.
  • The initially reported Tier 1 CBE spend for construction services was $162,887,034.
  • The corrected amount represents a reduction of $45,317,721 from the initially reported figure.
  • The errata corrects the reported expenditure for the period January 2023 - December 2023.

Sources:

  • Pepco's errata document, signed by Dennis P. Jamouneau on June 9, 2025.
  • Pepco Holdings' Supplier Diversity Program 2023 Annual Report, submitted by Vernice Lewis on June 9, 2025.