Funding to Bring $1.5 Billion in Savings to PECO Customers and Create More than 4,300 Jobs
PECO (NYSE:EXC):
WHAT: | Presidential Cabinet member tour of state-of-the-art substation, transmission energy control center and announcement of a $200 million stimulus award to benefit PECO customers. | ||||
WHO: | U.S. Department of Energy (DOE) Secretary Dr. Steven Chu | ||||
| PECO President & CEO Denis O''Brien | |||||
| City, state and federal elected officials, policy leaders and community stakeholders | |||||
WHEN: | Thursday, October 29 | ||||
11:15 a.m. Media bus departs from PECO | |||||
11:30 a.m. Media arrive at Tunnel Substation | |||||
11:45 a.m. Tour Tunnel Substation | |||||
12:20 p.m. Depart for PECO Headquarters | |||||
12:30 p.m. Tour PECO Control Room | |||||
12:50 p.m. Press Briefing and Q&A | |||||
WHERE: | PECO Headquarters | ||||
| 2301 Market Street, Philadelphia | |||||
| NOTE: Media should arrive at PECO at 11 a.m. for briefing, safety apparel, credentials and transportation to Tunnel Substation. Sturdy footwear is required. To ensure the safety of the media personnel, all media are required to travel to Tunnel substation on PECO provided transportation. Media also can join the Secretary at PECO headquarters for the 12:30 p.m. Control Room tour. | |||||
DETAILS: | Chosen as one of only 6 utilities in the country to receive major funding, the $200 million awarded to PECO will bring more than 4,300 job years to the Greater Philadelphia region and leverage new technology to help customers save more than $1.5 billion in energy costs. By creating a two-way information system, the new “smart grid / smart meter” system will improve local electric service reliability and also help advance use of renewable energy sources. This award follows President Obama''s Tuesday announcement of a more than $3 billion investment in modernizing the nation''s electric grid. For more information visit www.peco.com/SMART | ||||
Contacts:
PECO
Cathy Engel or Michael Wood
215-841-5555