PUC Approves PECO Plan to Advance Electric System With New Technology & Microgrid Pilot
System 2020 plan ensures future of safe, reliable, affordable energy
for customers
The Pennsylvania Public Utility Commission (PUC) today approved PECO’s
System 2020 plan to invest an additional $274 million, during the next
five years, to install advanced equipment, explore state-of-the-art
microgrid technology and reinforce the future electric system, making it
more weather resistant and less vulnerable to storm damage.
“Given that innovations like microgrid technology may help enhance
reliability and resiliency, I am encouraged by PECO’s proposal,” said
PUC Commissioner Pamela A. Witmer. “I applaud PECO for this proposal,
and I look forward to further details as the company evaluates these
projects and develops a plan.”
This investment is in addition to $300 million in ongoing system work
completed each year, including replacing equipment and upgrading
infrastructure.
“As we work to continue to exceed our customers’ expectations we know
the importance of clean, reliable and affordable energy,” said Craig
Adams, PECO president and CEO. “With this advanced technology and new
learnings, we will make our future electric system even more reliable
and more resistant to storm-related outages.”
Beginning in 2016, PECO will implement a five-year plan, which also
includes:
-
$74 million to extend existing circuits from more modernized
substations and electric equipment, and retire older equipment across
the service territory.
-
$72 million to replace underground electric cable and install advanced
devices to help automatically restore service.
-
$65 million to install new underground electric cable and interconnect
portions of the existing electric system, creating more ways to
restore service.
-
$63 million to install advanced equipment, including reclosers, to
reduce the length and impact of outages when they occur. This includes
work in targeted areas where an increased number of tree-related
outages occur.
During the past five years, PECO has invested more than $1.5 billion in
its electric distribution system, installing advanced devices that are
transforming the future of energy.
Based in Philadelphia, PECO is an electric and natural gas utility
subsidiary of Exelon Corporation (NYSE: EXC). PECO serves 1.6
million electric and more than 506,000 natural gas customers in
southeastern Pennsylvania and employs about 2,400 people in the region.
PECO delivered 89.9 billion cubic feet of natural gas and 37.5
billion kilowatt-hours of electricity in 2014. Founded in 1881,
PECO is one of the Greater Philadelphia Region's most active corporate
citizens, providing leadership, volunteer and financial support to
numerous arts and culture, education, environmental, economic
development and community programs and organizations. For more
information visit PECO.com,
and connect with the company on Facebook
and Twitter.
If you are a member of the media and would like to receive PECO news
releases via email, please send your email address to PECO.Communication@exeloncorp.com.
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Copyright Business Wire 2015
Source: Business Wire
(October 22, 2015 - 2:24 PM EDT)
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