Pepco Holdings Hosts Officials from the U.S. Department of Energy To Discuss Progress on Smart Grid Investment Grants
Monday, May 09, 2011
PHI Investing over $500 million in capital toward Smart Grid – Was also awarded a $168 million grant from the Department of Energy As part of the American Recovery and Reinvestment Act
WASHINGTON , DC – Today, Pepco Holdings, Inc. (PHI) welcomes officials from the U.S. Department of Energy (USDOE) to discuss progress on the utility’s effort to deploy Smart Grid, including Advanced Metering Infrastructure (AMI) – commonly known as smart meters. Pepco is a leader among energy providers throughout the United States in its commitment toward investing in Smart Grid technologies.
“PHI is dedicated to providing its customers with reliable and affordable power,” said Joseph M. Rigby, president and chief executive officer of PHI. “With new digital smart meters and the Smart Grid, PHI’s utilities will be able to provide up-to-date energy information and tools that will empower customers to manage their usage while lowering energy costs. Our partnership with USDOE has also allowed us to drive new business and jobs in our communities while reducing the cost of this investment to our customers.”
PHI has committed over $500 million in capital investments dedicated to the deployment of Smart Grid technology. PHI received a grant of $168 million from USDOE as part of the American Recovery and Reinvestment Act. The Smart Grid and smart meters will allow customers to benefit from increased information allowing for better energy management, savings and positive environmental impacts. Of critical importance, it will also allow customers to benefit from better outage detection and faster outage recovery.
Meetings between PHI’s leadership and USDOE officials will last for two days and cover topics such as PHI’s Smart Grid plans and implementation status, field visits to distribution automation and smart meters installations and a progress report on the Smart Grid Investment Grants.
About PHI : Pepco Holdings, Inc. (NYSE: POM) is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 1.9 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries Pepco, Delmarva Power and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. PHI also provides energy efficiency and renewable energy services through Pepco Energy Services.