CONGRESSMAN PETERS APPLAUDS $84 MILLION SMART GRID GRANT FOR MICHIGAN

Wed. October 28, 2009; Posted: 05:46 PM

Oct 28, 2009 (Congressional Documents and Publications/ContentWorks via COMTEX) -- DTE | Quote | Chart | News | PowerRating -- Washington, D.C. - Congressman Gary Peters today applauded President Obama's announcement that DTE Energy of Detroit would receive $84 million in American Recovery and Reinvestment Act Smart Grid funding. The funding would be used to for DTE's SmartCurrents program, which includes measures to reduce energy use and lower consumer's energy costs. Congressman Peters has been a leader in the effort to secure this Smart Grid funding for Michigan, including acting as lead signatory on a bipartisan letter to Energy Secretary Steven Chu advocating early this year (click here to view the letter).

"This economic Recovery Act investment is extremely good news for Michigan," said Congressman Peters. "These resources will create jobs in our state and empower families and businesses to take steps to reduce their consumption and lower their energy bills. I want to thank all my colleagues from both parties who worked with me to help secure this funding for Michigan. There is no doubt that as a nation we need to update our early 20th Century electric grid, and there is no doubt that Michigan needs the economic boost we'll get by doing so."

DTE's SmartCurrents program will deploy a large-scale network of 660,000 smart meters, provide smart appliances to 300 customers and implement the Smart Home program, which will provide customer benefits such as dynamic pricing to 5,000 customers.

President Obama announced a total of $3.4 billion in Smart Grid technology investments today. This is the largest single Smart Grid modernization investment in U.S. history, funding a broad range of projects that will ease the nation's transition to a smarter, stronger, more efficient and reliable electric system. The $3.4 billion from the American Reinvestment and Recovery Act will be matched by industry funding for a total public-private investment worth over $8 billion.

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For full details on Dte Energy Co (DTE) click here. Dte Energy Co (DTE) has Short Term PowerRatings of 5. Details on Dte Energy Co (DTE) Short Term PowerRatings is available at This Link.

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