NewsCon Edison Media Relations
For Immediate Release: June 25, 2008
CON EDISON RECEIVES FEDERAL GRANT TO TEST NEW ENERGY SOURCES TO ENHANCE RELIABILITY
NEW YORK – As one of several initiatives to explore 21st century technology for meeting smart grid objectives, Consolidated Edison Company of New York Inc. (Con Edison) has received a $6.8 million federal grant to research and develop new ways to safely enhance power generation and distribution systems during the hottest summer days and other critical times. The project is among nine competitively selected by the U.S. Department of Energy to increase reliability in the nation’s electrical grid.
“These proposals will help to increase reliability in our electricity grid by defraying both the cost and effort associated with upgrading distribution lines or adding new generation capacity to meet peak electrical load, furthering our ongoing efforts to increase national economic and energy security,” said Kevin Kolevar, DOE Assistant Secretary for Electricity Delivery and Energy Reliability.
Con Edison and its partners will also invest an additional $6.2 million into the program. In addition, the New York State Energy Research and Development Authority (NYSERDA) is awarding $1 million to aid this project.
The project’s objective is to integrate new hardware, software and administrative protocols to create a virtual power plant that can safely distribute third party customer power into Con Edison’s network system during anticipated electric peak usage times. The study will review both conventional and renewable energy.
One of the partners on the project, Verizon, owns several on-site generating units throughout Con Edison’s service area. Part of the plan calls for Con Edison to determine the technical feasibility of using the Verizon units for power production that can be linked safely into Con Edison’s system.
Along with Con Edison and Verizon, Innoventive Power, and Infotility are members of the team. Innoventive Power will be the project manager and aggregator for the multiple distributed resources, and Infotility will provide hardware and software development.
Consolidated Edison, Inc. [NYSE: ED] is one of the nation’s largest investor-owned energy companies, with approximately $13 billion in annual revenues and $29 billion in assets. The company provides a wide range of energy-related products and services to its customers through its two regulated utility subsidiaries and its three competitive energy businesses. For additional financial, operations and customer service information, visit Consolidated Edison, Inc.’s Web site at www.conedison.com.
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