U.S. Secretary of Energy Visits PECO to Award $200 Million in Smart Meter Stimulus

Wed. October 28, 2009; Posted: 05:32 PM

Oct 28, 2009 (BUSINESS WIRE) -- EXC | Quote | Chart | News | PowerRating -- 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

SOURCE: PECO

PECO 
Cathy Engel or Michael Wood 
215-841-5555

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