Dimitry Medvedev,
Russian President
 
Washington, DC, U.S.A. --- (METERING.COM) --- June 29, 2010 - Russia and the United States are to collaborate on smart grids, with the development of a pilot smart grid project based on the most innovative technologies to cut losses in electric power systems and reduce emissions.

The project will match U.S. and Russian cities implementing similar projects and will facilitate the sharing of best practices and technical information.

The project was announced last week by U.S. President Barack Obama and Russian President Dimitry Medvedev during the latter’s visit to the United States, and forms the centerpiece of a broader action plan to promote energy efficiency and the development of clean energy technologies.

The action plan, agreed by the Presidential Commission’s Energy Working Group, co-chaired by U.S. energy secretary Steven Chu and Russian minister of energy Sergey Shmatko, is aimed at promoting innovation in the U.S. and Russian economies and assisting in reducing national levels of carbon emissions through implementing the most advanced technologies, mobilizing financial resources, and facilitating creative energy management solutions.

The plan also provides for implementing energy management and technical programs to improve energy efficiency in U.S. and Russian public sector buildings. In recognition of the crucial role of the private sector, including small and medium sized companies, in driving innovation, the sides agreed to develop financial mechanisms to help create investment incentives to promote energy efficiency and clean technologies.