10.28.09 Peco Energy Gets $200M ‘Smart-Grid’ Grant

The Philadelphia Inquirer reports,

Peco Energy Co. was awarded a $200 million federal stimulus grant yesterday that will allow it to speed up deployment of “smart-grid” technology, including 600,000 advanced electric meters in the next three years.

The grant will allow the Philadelphia electric utility to rapidly roll out a plan to install “smart meters” that will allow customers to monitor electric prices in real time. The utility plans to convert all 1.6 million of its customers to the devices in a decade.

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