8-K

UNITED STATESSECURITIES 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)		July 24, 2002
CONECTIV                            (Exact name of registrant as specified in its charter)
Delaware                     (State or other jurisdiction             of incorporation)	1-13895        (Commission File      Number)	51-0377417      (I.R.S. Employer Identification No.)
800 King Street, P.O. Box 231, Wilmington, Delaware Address of principal executive offices		19899    (Zip Code)
Registrant's telephone number, including area code		(302) 429-3018
(Former Name or Former Address, if Changed Since Last Report)

                                                                                                                                                               CONECTIV
                                                                                                                                                                Form 8-K

Item 5.	Other Events. Exhibits 99-1 and 99-2, attached hereto, are hereby incorporated by reference.
Item 7.	Financial Statements and Exhibits.
	(c)  Exhibits
	Exhibit No.	Description of Exhibit	Reference
	99-1	Joint Press Release of Potomac Electric Power Company and Conectiv dated as of July 24, 2002.	Filed herewith.
	99-2	Joint Press Release of Potomac Electric Power Company and Conectiv dated as of July 25, 2002.	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.

                                                                                                                              Conectiv
                                                                                                                            (Registrant)




                                                                                                     By:                  T. S. SHAW                      
                                                                                                                        Thomas S. Shaw
                                                                                                                 President and Chief Operating
                                                                                                                      Officer
                                                                                                                      



July 26, 2002
    DATE

                                                                                                  -2-

EX-99

FOR IMMEDIATE RELEASE

July 24, 2002

                                Pepco and Conectiv Announce Merger Closing Date,
                                      Election Deadline for Conectiv Shareholders


            Potomac Electric Power Company (Pepco) (NYSE: POM) and Conectiv (NYSE: CIV;
CIVA) today announced that the closing date of their merger is scheduled for August 1, 2002. In
the merger, Pepco and Conectiv each will become a subsidiary of Pepco Holdings, Inc., a newly
formed public utility holding company. The announcement followed today's approval of the
merger by the Securities and Exchange Commission.

            The companies also announced that the election deadline for Conectiv shareholders will
be 5 p.m., New York City time, July 30, 2002. This is the time by which Conectiv shareholders
must deliver their election forms to Mellon Investor Services LLC, which is serving as the
exchange agent.

            The Plan Participant Election Deadline for participants in the Conectiv Savings and
Investment Plan and the Conectiv PAYSOP/ESOP is 5 p.m., July 26, 2002 and the freeze period
for transactions in those plans begins at 4 p.m., July 25, 2002. The Plan Participant Election
Deadline for participants in the Atlantic Electric Savings & Investment Plan-B is 5 p.m., July 29,
2002 and the freeze period for transactions in that plan begins at 4 p.m., July 25, 2002.

            Under the terms of the merger agreement, the holders of Conectiv common stock and
Class A common stock may complete the applicable election form to elect to receive the
following, subject to prorationing: for each share of Conectiv common stock they own either
$25.00 in cash or shares of Pepco Holdings common stock having an approximately equivalent
value; for each share of Conectiv Class A common stock they own either $21.69 in cash or
shares of Pepco Holdings common stock having an approximate equivalent value. The number
of shares of Pepco Holdings common stock that Conectiv shareholders will be entitled to receive
will depend on the volume-weighted average of closing trading prices for Pepco common stock
on 20 randomly selected trading days out of the 30 consecutive trading days beginning on June
13, 2002 and ending, July 25, 2002. A shareholder who fails to make a valid election with
regard to their shares of Conectiv common stock or Class A common stock will lose their right to
make an election and will receive an allocation of cash and stock as determined by Pepco in
accordance with the terms of the merger agreement. Shareholders should refer to the joint proxy
statement/prospectus, dated May 30, 2001, for a more detailed description of the exchange ratio
calculation.

            The companies will issue a press release on or before July 26, 2002 announcing the
Pepco average final price and the Conectiv common stock and Class A common stock exchange
ratios. Information concerning the exchange ratios will be available on the Pepco Web site
(www.pepco.com) and the Conectiv Web site (www.conectiv.com). Exchange ratio information
also can be obtained by calling the exchange agent at 1-800-774-5469.

            The merger of Pepco, based in Washington, D.C., and Conectiv, based in Wilmington,
Del., will create one of the largest electricity delivery companies in the mid-Atlantic region with
a transmission network serving 1.8 million customers in a 10,000-square-mile area. The two
utilities will continue operations as separate companies under Pepco Holdings, Inc., which will
be headquartered in Washington, D.C.

            Pepco is an investor-owned company that delivers electricity to more than 700,000
customers in Washington, D.C. and the Maryland suburbs. Conectiv is focused on two core
energy businesses. Conectiv Power Delivery provides energy to more than one million customers
in New Jersey, Delaware, Maryland and Virginia. Conectiv Energy manages a growing portfolio
of "mid-merit" power plants that can respond quickly to changes in the demand for power with
the PJM power pool.

            Forward-Looking Statements: Except for historical statements and discussions, the
statements in this press release constitute "forward-looking statements" within the meaning of
the federal securities laws. These statements contain managements' beliefs based on information
currently available to them and on various assumptions concerning future events. Forward-
looking statements are not a guarantee of future performance or events. They are subject to a
number of uncertainties and other factors, many of which are outside the companies' control. In
connection with the transaction, additional important factors that could cause actual results to
differ materially from those in the forward-looking statements herein include risks and
uncertainties relating to delays in obtaining, or adverse conditions contained in, related
regulatory approvals, changes in economic conditions, availability and cost of capital, changes in
weather patterns, changes in laws, regulations or regulatory policies, developments in legal or
public policy doctrines and other presently unknown or unforeseen factors. These uncertainties
and factors could cause actual results to differ materially from such statements. The companies
disclaim any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. This information is presented solely to
provide additional information to further understand the results and prospects of the companies.

Contacts for Pepco	Contacts for Conectiv
Investors: Ernie Bourscheid (202) 872-872-2797 Media: Makini Street (202) 872-2680	Investors: Bob Marshall                                                       (302) 429-3164                                                                         Media: Tim Brown                                                                  (302) 283-5803

EX-99

FOR IMMEDIATE RELEASE

July 25, 2002

                               Pepco and Conectiv Announce Pepco Average Final Price,
        Conectiv Common Stock and Class A Common Stock Exchange Ratios for Merger

            Potomac Electric Power Company (Pepco) (NYSE: POM) and Conectiv (NYSE: CIV;
CIVA) today announced the Pepco average final price and the exchange ratios for the Conectiv
common stock and Class A common stock in connection with their merger. In the merger, Pepco
and Conectiv each will become a subsidiary of Pepco Holdings, Inc., a newly formed public
utility holding company. In accordance with the merger agreement, the companies have
determined the following:

          The average final price of Pepco common stock, for purposes of determining exchange
            ratios for Conectiv common stock and Class A common stock, is $19.4884
          The Conectiv common stock exchange ratio will be 1.28205
          The Conectiv Class A common stock exchange ratio will be 1.11227

            Under the terms of the merger agreement, the holders of Conectiv common stock and
Class A common stock may complete the applicable election form to elect to receive the
following, subject to prorationing: for each share of Conectiv common stock they own either
$25.00 in cash or 1.28205 shares of Pepco Holdings common stock; and for each share of
Conectiv Class A common stock they own either $21.69 in cash or 1.11227 shares of Pepco
Holdings common stock. The combination of cash and Pepco Holdings common stock that any
Conectiv shareholder is entitled to receive in the merger is subject to prorationing in order to
ensure that Conectiv shareholders as a group will receive 50 percent cash and 50 percent Pepco
Holdings common stock in exchange for their Conectiv shares. The deadline for Conectiv
shareholders to return their election forms to Mellon Investor Services LLC, the Exchange
Agent, is 5 p.m., New York City time, July 30, 2002. A shareholder who fails to make a valid
election with respect to their shares of Conectiv common stock or Class A common stock will
receive an allocation of cash and stock as determined by Pepco in accordance with the terms of
the merger agreement. Conectiv shareholders with questions concerning the election process
should contact the exchange agent at 1-800-774-5469.

            Effective today, all voluntary cash purchases of shares through the Pepco Shareholder
Dividend Reinvestment Plan (Pepco DRP) and weekly sales of shares from the Pepco DRP are
suspended.

            The merger of Pepco, based in Washington, D.C., and Conectiv, based in Wilmington,
Del., will create one of the largest electricity delivery companies in the mid-Atlantic region with
a transmission network serving 1.8 million customers in a 10,000-square-mile area. The two
utilities will continue operations as separate companies under Pepco Holdings, Inc., which will
be headquartered in Washington, D.C.

            Pepco is an investor-owned company that delivers electricity to more than 700,000
customers in Washington, D.C. and the Maryland suburbs. Conectiv is focused on two core
energy businesses. Conectiv Power Delivery provides energy to more than one million customers
in New Jersey, Delaware, Maryland and Virginia. Conectiv Energy manages a growing portfolio
of "mid-merit" power plants that can respond quickly to changes in the demand for power with
the PJM power pool.

            Forward-Looking Statements: Except for historical statements and discussions, the
statements in this press release constitute "forward-looking statements" within the meaning of
the federal securities laws. These statements contain managements' beliefs based on information
currently available to them and on various assumptions concerning future events. Forward-
looking statements are not a guarantee of future performance or events. They are subject to a
number of uncertainties and other factors, many of which are outside the companies' control. In
connection with the transaction, additional important factors that could cause actual results to
differ materially from those in the forward-looking statements herein include risks and
uncertainties relating to delays in obtaining, or adverse conditions contained in, related
regulatory approvals, changes in economic conditions, availability and cost of capital, changes in
weather patterns, changes in laws, regulations or regulatory policies, developments in legal or
public policy doctrines and other presently unknown or unforeseen factors. These uncertainties
and factors could cause actual results to differ materially from such statements. The companies
disclaim any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. This information is presented solely to
provide additional information to further understand the results and prospects of the companies.

Contacts for Pepco Investors: Ernie Bourscheid (202) 872-2797 Media: Makini Street (202) 872-2680 Contacts for Conectiv                                               Investors: Bob Marshall                                            (302) 429-3164                                                              Media: Tim Brown                                                     (302) 283-5803