Central Maine Power Company, 83 Edison Drive, Augusta, ME 04336 (207) 622-NEWS
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Release: Immediate - An Energy East Company
CMP selected for $96 million federal stimulus grant for Smart Grid technology
AUGUSTA, Maine, October 27, 2009 — Central Maine Power Company (CMP) has been selected to receive a $95.9 million federal grant to install Smart Grid technology for all its customers. The company’s Advanced Meter Infrastructure project (AMI) was among 100 projects chosen to receive funding under the government’s Smart Grid Investment Grant program, which is part of the American Reinvestment and Recovery Act.
“This is transformational technology for consumers, the environment, and the utility industry,” said Sara Burns, president of Central Maine Power. “Smart grid technology empowers people with better information. It enables choices for supply and price that Maine consumers just don’t have today, and it help us plan and operate our business more efficiently. In the short term, it will create 200 new jobs to install the system next year, while homeowners and businesses will see lasting benefits.”
CMP expects to receive final approvals from regulators by early 2010. They will begin replacing their existing meters with new smart meters for more than 600,000 customers later next year, and complete the change-out within two years.
The new meters will provide customers with continuous, real-time information on electrical usage and enable suppliers to offer consumers new options for variable pricing or time-of-use rates. Studies have shown that consumers will use electricity more efficiently when they have real-time information about usage and price. The new meters will be will also help the company reduce costs, enhance system planning, and pinpoint problems more quickly during outages.
“Our consumers will get better reliability at lower costs than we could ever achieve without this investment,” said Burns. “We’re pleased to have been chosen for one of the largest grants in the country, and we’re very grateful to Senators Snowe and Collins for supporting our application.”
About CMP: Central Maine Power, a subsidiary of Energy East Corporation, operates more than 25,000 miles of power lines and other facilities that deliver electricity to 80 percent of Maine’s population. Web site: www.cmpco.com.
About Energy East: Energy East Corporation is a respected, super-regional energy services and delivery company serving about 3 million customers throughout upstate New York and New England. By providing outstanding customer service and meeting customers’ energy requirements in an environmentally responsible manner, Energy East will continue to be a valuable asset to the communities we serve. The company has since September 2008 been part of the Spain-based Iberdrola Group, the world's fifth largest utility and number one in wind power.
— CMP —