logo


Oncor's $317 Million Stimulus Grant Request Rejected
Wednesday, October 28, 2009 3:53 PM


(Source: Fort Worth Star-Telegram (Fort Worth, Texas))trackingBy Jack Z. Smith, Fort Worth Star-Telegram, Texas

Oct. 28--Oncor Electric Delivery failed to receive any of the $317 million in federal stimulus grant funding it sought for advancement of a "smart grid," including the installation of technologically advanced "smart" meters in North Texas, the company learned Tuesday.

"Oncor is disappointed for our customers, who could have benefited from the stimulus funds," company spokeswoman Carol Peters said. "It's not about Oncor. It's about our 7 million customers."

Oncor, the electric transmission and distribution company for most of North Texas, is charging residential customers $2.21 a month for the smart meters, a levy regulators approved for 11 years to pay the $686 million cost for installing 3.4 million meters.

Oncor previously had said charges to customers would be reduced if the company received federal stimulus money. The meters are to be installed from 2010 through 2012 in Tarrant County.

More than 300,000 have been installed in eastern Dallas County, most of Rockwall County and far southern Collin County.

The meters will provide detailed information to homeowners about their electricity use and could help reduce their costs by perhaps 10 percent, according to Oncor. In addition, the meters would allow the company to initiate or discontinue electric service without having to travel to customers' locations.

President Barack Obama on Tuesday announced $3.4 billion in federal grants for 100 projects aimed at modernizing the nation's power grid. About 300 grant applications were denied.

Oncor sought about $200 million for smart meters and approximately $58 million each for telecommunications and network investments to support smart grid initiatives and for increased automation of its distribution system.

Grant recipients in Texas include Reliant Energy Retail Services (with retail customers in Dallas-Fort Worth, Houston and other cities), which is receiving nearly $20 million for smart meter products, and CoServ Electric, based in Denton County, receiving $17.2 million for 140,000 smart meters and associated equipment. The biggest Texas recipient was CenterPoint Energy, receiving $200 million, primarily for smart meters in the Houston area.

JACK Z. SMITH, 817-390-7724

-----

To see more of the Fort Worth Star-Telegram, or to subscribe to the newspaper, go to http://www.dfw.com.

Copyright (c) 2009, Fort Worth Star-Telegram, Texas

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NYSE:CNP,

A service of YellowBrix, Inc.



(0)
No Comments
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

  
Related Press Releases
Advertisement
Popular Articles
Advertisement
Partner Center
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia