For Immediate Release
Funds Will Be Used to Modernize Electric System with New Technology
MAYS LANDING, N.J. - Atlantic City Electric said today the $18.7 million in federal stimulus spending awarded the company this week by the Department of Energy (DOE) will be used to modernize the electric distribution system in southern New Jersey and help customers conserve energy. The grant will be finalized in the coming weeks through negotiations with DOE.
ACE will match the federal funds and invest in projects that will create new jobs, boost the economy and lay the technological groundwork for an enhanced distribution system.
"This is an exciting opportunity," said Vince Maione, Atlantic City Electric Region President. "Through the installation of distribution automation and demand-response technologies, these dollars will allow us to enhance the service we provide to our customers."
Maione said the company will begin to install approximately 25,000 power - demand - limiting devices, intelligent grid sensors, distribution automation technology and other grid communication infrastructure to enhance reliability and optimize the grid's operation.
Demand response technologies give customers the ability to have their air conditioning equipment or thermostats cycled on and off at peak usage times. This would help to reduce overall consumption, reduce energy costs and preserve the integrity of the electric system during critical load consumption periods.
Distribution automation technology will improve the reliability of the electric system and enable the company to better manage the flow of power through the lines and restore service more quickly and safely.
"Atlantic City Electric thanks the commissioners and staff of the New Jersey Board of Public Utilities for their support of the company's application for this award," Maione said. "We look forward to working with the Board to bring the full benefit of these stimulus dollars to our customers."
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 547,000 customers in southern New Jersey.