For Immediate Release
Grant Money Would Help Offset Costs of Improving Electric System Reliability
MAYS LANDING, N.J. - Atlantic City Electric announced today that it will file an application for a $19 million federal grant under the American Recovery and Reinvestment Act (ARRA).
The utility is seeking a grant from the U.S. Department of Energy (DOE) to help cover the cost of adding distribution automation to the electric system in southern New Jersey and direct load control equipment to help reduce energy use during periods of peak demand. A $19 million grant, if awarded by DOE, would represent 50 percent of the total project spend, which is the maximum possible under the program.
"Every dollar we obtain from the federal government offsets the cost customers would otherwise pay to make these important improvements to the system, which are designed to enable customers to reduce their energy use and costs, improve reliability and create a cleaner environment," said Atlantic City Electric Region President Vincent Maione. "The funds also will allow us to do our part to jump start the local New Jersey economy and help the state meet its energy goals."
Distribution automation technology enhances the reliability of the electric system, so Atlantic City Electric will be better able to manage the flow of power and, when the flow is interrupted, restore service more quickly and safely.
Direct load control equipment gives the utility the ability to temporarily cycle on and off air conditioning equipment during times of peak demand for customers who volunteer to participate in the program. This helps to reduce overall usage, keep energy costs down and preserve the integrity of the electric system during critical load consumption periods.
Atlantic City Electric, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe, reliable and affordable regulated electric delivery services to more than 540,000 customers in southern New Jersey.