Carl Chapman,
President & COO,
Vectren
 
Evansville, IN, U.S.A. --- (METERING.COM) --- October 15, 2009 - In anticipation of the receipt of stimulus funding from the U.S. Department of Energy (DOE) to support smart grid implementation in its southwestern Indiana electric service territory, Vectren Energy Delivery of Indiana - South has filed for regulatory approval from the Indiana Utility Regulatory Commission (IURC) to move forward with the accelerated grid modernization project should such funding be awarded.

Details of the filing include a request for project pre-approval and an ability to recover project costs as incurred as well as approval of dynamic pricing tariffs, which would provide the means for customers to effectively manage their energy costs by limiting energy use, for example, during higher-cost peak times in the summer.

Vectren's proposal to the DOE includes a request for $45 million, or roughly 50 percent of the project's total cost.

“If awarded, the DOE would require implementation to begin almost immediately to ensure the funds are spent within the next three years,” said Vectren president and COO Carl Chapman. “We want to make sure we have the necessary regulatory approval in progress to capitalize on any awarded dollars and quickly initiate the project.”

Vectren's electric utility serves more than 140,000 customers in all or portions of seven counties in southwestern Indiana, including Vanderburgh, Warrick, Spencer, Gibson, Posey, Pike and Dubois.