BRIEF: Saratoga County project shut out of federal smart grid funding

Tue. October 27, 2009; Posted: 02:09 PM

Oct 27, 2009 (Albany Times Union - McClatchy-Tribune Information Services via COMTEX) -- NGG | Quote | Chart | News | PowerRating -- President Obama has released $3.4 billion in "smart grid" project funding, but National Grid doesn't appear on this list.

It was assumed that National Grid would be a slam-dunk for its $300 million smart grid project that would provide all kinds of cool energy technologies to homes and businesses in Saratoga County, including smart meters and plug-in hybrid cars.

The good news is that the New York Independent System Operator, the North Greenbush nonprofit that oversees the electric grid, will get $37 million for a statewide equipment upgrade project. ConEd down in the New York City area also got a $136 million award.

National Grid spokesman Patrick Stella was still trying to sort out what happened to National Grid's request and whether the London-based company could be awarded money at another time for the project.

Read more and comment in The Buzz: Business news.

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For full details on National Grid Group Plc (NGG) click here. National Grid Group Plc (NGG) has Short Term PowerRatings of 5. Details on National Grid Group Plc (NGG) Short Term PowerRatings is available at This Link.

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