October 28, 2009
Energy Secretary Chu to Visit PECO in Philadelphia on Thursday to Discuss New Smart Energy Grid Investments
PECO recently awarded $200 million in Smart Grid grants; projects will save customers $1.5 billion and create 4,300 jobs
Washington DC ---- Following President Obama’s recent announcement of $3.4 billion in Smart Grid investment grants across the country, U.S. Energy Secretary Steven Chu will visit PECO in Philadelphia on Thursday, October 29, to discuss the company’s plans to invest $200 million in rapid deployment of smart meters and Smart Grid technology.
According to PECO, the new projects will save customers $1.5 billion and create 4,300 jobs.
As part of his visit, Secretary Chu will tour PECO’s new electric substation and system operations control room. A media availability will take place following the tour.
On Tuesday, President Obama announced the largest single energy grid modernization investment in U.S. history, funding a broad range of technologies that will spur the nation’s transition to a smarter, stronger, more efficient and reliable electric system. The end result will mean cost-saving choices for consumers, increased efficiency, and accelerated growth of renewable energy sources like wind and solar.
The $3.4 billion in grant awards are part of the American Reinvestment and Recovery Act, and will be matched by industry funding for a total public-private investment worth over $8 billion. Applicants state that the projects will create tens of thousands of jobs, and consumers in 49 states will benefit from these investments in a stronger, more reliable grid.
| WHAT: |
U.S. Energy Secretary Steven Chu to tour PECO’s new electric substation and system operations control room and discuss PECO’s new $200 million in Smart Grid grants |
| WHO: |
U.S. Energy Secretary Chu
PECO President & CEO Denis O’Brien
Invited city, state and federal elected officials |
| WHEN: |
Thursday, Oct. 29, approximately 11:30 a.m. to 1:30 p.m.
Editor’s Note: The media is invited to join Secretary Chu for the tour. Media who wish to participate should arrive no later than 11 a.m. for bus transportation from PECO headquarters; Media who wish to participate only in the news briefing can arrive by 12:30 p.m. |
| WHERE: |
PECO Energy Hall, 2301 Market Street, Philadelphia
PECO’s new Tunnel substation in the University City section of Philadelphia and the company’s Transmission System Operations control room |
Media
contact(s):
(202) 586-4940
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