A submersible pump system that is operable to permit selective access into a production zone of a well bore while a submersible pumping device is operating includes a Y-tool, a submersible pumping device, a control valve assembly and a power conduit. The control valve assembly is also operable to selectively permit access between the interior of the submersible pumping system and the exterior of the submersible pumping system. The valve is operable to form a dynamic seal. The power conduit is operable to convey both power and a pre-designated control signal simultaneously. A method for accessing the production zone of the well bore with a well bore tool uses the submersible pump system while the submersible pump system is producing production zone fluid. The submersible pumping device continues to operate without interruption after transmission of the pre-designated pump control signal.