Dallas-based Oncor has officially completed filing three applications with the Department of Energy (DOE) for approximately $317 million in stimulus funds.
Oncor has filed applications to fund the following smart grid initiatives:
– $200 million to lower the cost for the Smart Texas SM advanced meter system initiative,
– more than $58 million for telecommunications network investments to support the smart grid initiatives, and
– more than $58 million for distribution automation to improve service and reliability.
‘Oncor's projects clearly support the goals of the federal legislation – creating jobs, promoting energy efficiency and equipping consumers with more information about energy use,’ says Bob Shapard, Oncor's chairman and CEO. ‘The applications also support the Public Utility Commission of Texas' own objectives to lower costs to consumers and improve service and reliability.’
If approved, Oncor expects the three smart grid applications to create or retain an estimated 1,600 jobs in 2010, based on data from the Council of Economic Advisers.
Later this year, Oncor plans to file an application for a federal loan guarantee to support the development of the Competitive Renewable Energy Zone projects assigned to Oncor.
SOURCE: Oncor Electric Delivery Co.