Dallas, TX, U.S.A. --- (METERING.COM) --- July 1, 2009 - Oncor has notified the U.S. Department of Energy of its intent to apply for approximately $317 million in stimulus funds for its Smart Texas initiative.
Oncor will request $200 million to lower the cost for the Smart Texas advanced meter system initiative, more than $58 million for telecommunications and network investments to support the smart grid initiatives, and more than $58 million for distribution automation to improve service and reliability.
“Oncor's vision for a modern, interactive, intuitive electric grid is real, tangible and happening now. Our first considerations in seeking these stimulus grants are whether the funds will help consumers lower their electric bills or advance smart grid initiatives to improve service and reliability,” said Bob Shapard, chairman and CEO of Oncor.
Oncor's smart grid program is an all-encompassing transformation of Oncor's electric grid underpinned by the installation of 3.4 million advanced meters and related communications systems. Of these, so far almost 250,000 advanced meters have been installed.
Expected to be completed in 2012, the advanced metering initiative represents the gateway to new programs and services, including time-of-use pricing, smart appliances that can tell when the price for power is lowest, and plug-in hybrid and electric vehicle fleets fueled by off-peak, clean, renewable wind energy.
Overall, Oncor anticipates stimulus fund investments could create an estimated 1,600 jobs in 2010, based on data from the Council of Economic Advisers.