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WASHINGTON -
Baltimore Gas and Electric Co. will receive a $200 million federal stimulus grant as part of $3.4 billion in national "smart grid" funding to be announced Tuesday, White House officials said.
The BGE grant, one of the largest in the country, is one of 100 nationwide selected for federal funding by the Department of Energy out of a total of 400 applications submitted earlier this year. All of the projects are designed to help speed transition to what the Obama administration is calling "the largest single grid modernization investment in U.S. history."
BGE plans to invest $251 million in the project, bringing the price tag of the first phase to $451 million. The company announced earlier this year that it expects customers to save a total of $2.6 billion over the life of the project.
The federal grant, from the $787 billion stimulus program that President Barack Obama signed into law in February, will be used to help install 1.1 million advanced power meters for BGE customers. A total of 400,000 in-home devices will allow customers to better manage electricity use as part of the initial project, according to Obama administration officials.
BGE is moving toward peak-time pricing, which the company says would provide savings to customers for using less energy during peak periods. The company also says that slowing the growth of energy consumption will also reduce the need to build new peak-power generating capacity.
In all, BGE has said it plans to install 2 million residential and commercial smart meters. It described its project as one of the most ambitious in the nation, and U.S. Department of Energy officials have singled it out for one of the largest stimulus grants to be awarded this week.
The stimulus grants are being announced in conjunction with Obama's visit Tuesday to a solar energy center in Florida.
White House officials who briefed reporters Monday night said the stimulus money would generate jobs in manufacturing smart meters as well as equipment installation, data entry, cyber-security and information technology.
Energy department officials estimate that the federal money will begin flowing to the projects within the next 60 days.
An earlier version of this article incorrectly stated that BGE said it expected to spend a total of $2.6 billion over the life of the project. The company said it expected customers to save $2.6 billion over the life of the project. The Baltimore Sun regrets the error.
The BGE grant, one of the largest in the country, is one of 100 nationwide selected for federal funding by the Department of Energy out of a total of 400 applications submitted earlier this year. All of the projects are designed to help speed transition to what the Obama administration is calling "the largest single grid modernization investment in U.S. history."
BGE plans to invest $251 million in the project, bringing the price tag of the first phase to $451 million. The company announced earlier this year that it expects customers to save a total of $2.6 billion over the life of the project.
The federal grant, from the $787 billion stimulus program that President Barack Obama signed into law in February, will be used to help install 1.1 million advanced power meters for BGE customers. A total of 400,000 in-home devices will allow customers to better manage electricity use as part of the initial project, according to Obama administration officials.
BGE is moving toward peak-time pricing, which the company says would provide savings to customers for using less energy during peak periods. The company also says that slowing the growth of energy consumption will also reduce the need to build new peak-power generating capacity.
In all, BGE has said it plans to install 2 million residential and commercial smart meters. It described its project as one of the most ambitious in the nation, and U.S. Department of Energy officials have singled it out for one of the largest stimulus grants to be awarded this week.
The stimulus grants are being announced in conjunction with Obama's visit Tuesday to a solar energy center in Florida.
White House officials who briefed reporters Monday night said the stimulus money would generate jobs in manufacturing smart meters as well as equipment installation, data entry, cyber-security and information technology.
Energy department officials estimate that the federal money will begin flowing to the projects within the next 60 days.
An earlier version of this article incorrectly stated that BGE said it expected to spend a total of $2.6 billion over the life of the project. The company said it expected customers to save $2.6 billion over the life of the project. The Baltimore Sun regrets the error.
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ByeByeSheila
You are correct sir/ma'am whatever you are. The smart grid/smart meter technology is California standards being brought to the rest of the nation, and we all know what great shape the state of California is in, right? Also, people in the PJM(Pennsylvania, Jersey, Md interconnector) territory that have smart meters put on your homes, get ready for rates to likes of which you have never seen before. There will be blood in the streets. Take it from me, I know, I'm in the energy business and know exactly what this means. Welcome to Obamaland!!!
baltfootballman (10/27/2009, 1:27 PM )