Tuesday, October 27, 2009

BGE Receives $200 Million Federal Stimulus Grant

Baltimore Gas and Electric Company (BGE) will receive a $200 million federal stimulus grant as part of $3.4 billion in national "smart grid" funding. The BGE grant is one of 100 nationwide selected for federal funding by the Department of Energy out of a total of 400 applications submitted earlier this year. BGE plans to invest $251 million in the project, bringing the price tag of the first phase to $451 million. The company announced earlier this year that it expects to spend a total of $2.6 billion over the life of the project.

The federal grant, from the $787 billion stimulus program that President Barack Obama signed into law in February, will be used to help install 2 million advanced power meters for BGE customers. A total of 400,000 in-home devices will allow customers to better manage electricity use as part of the initial project, according to Obama administration officials. Energy department officials estimate that the federal money will begin flowing to the projects within the next 60 days. (Balt Sun, 10/27/09)

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