U.S. Secretary of Energy Visits PECO to Award $200 Million in Smart Meter Stimulus Funding to Bring $1.5 Billion in Savings to PECO Customers and Create More than 4,300 Jobs

Oct 28, 2009 (BUSINESS WIRE) -- PECO (NYSE:EXC): WHAT: Presidential Cabinet member tour of state-of-the-art substation, transmission energy control center and announcement of a $200 million stimulus award to benefit PECO customers. WHO: U.S. Department of Energy (DOE) Secretary Dr. Steven Chu PECO President & CEO Denis O'Brien City, state and federal elected officials, policy leaders and community stakeholders WHEN: Thursday, October 29 11:15 a.m. Media bus departs from PECO 11:30 a.m. Media arrive at Tunnel Substation 11:45 a.m. Tour Tunnel Substation 12:20 p.m. Depart for PECO Headquarters 12:30 p.m. Tour PECO Control Room 12:50 p.m. Press Briefing and Q&A WHERE: PECO Headquarters 2301 Market Street, Philadelphia NOTE: Media should arrive at PECO at 11 a.m. for briefing, safety apparel, credentials and transportation to Tunnel Substation.

Sturdy

footwear is required. To ensure the safety of the media personnel,

all media are required to travel to Tunnel substation on PECO

provided transportation. Media also can join the Secretary at PECO

headquarters for the 12:30 p.m. Control Room tour.

DETAILS: Chosen as one of only 6 utilities in the country to receive major

funding, the $200 million awarded to PECO will bring more than

4,300 job years to the Greater Philadelphia region and leverage

new technology to help customers save more than $1.5 billion in

energy costs. By creating a two-way information system, the new

"smart grid / smart meter" system will improve local electric

service reliability and also help advance use of renewable energy

sources. This award follows President Obama's Tuesday announcement

of a more than $3 billion investment in modernizing the nation's

electric grid. For more information visit www.peco.com/SMART

SOURCE: PECO CONTACT: PECO Cathy Engel or Michael Wood 215-841-5555 Copyright Business Wire 2009 -0- KEYWORD: United States

North America

Pennsylvania INDUSTRY KEYWORD: Energy

Oil/Gas

Utilities

Public Policy/Government

Public Policy

State/Local

White House/Federal Government

Professional Services

Finance SUBJECT CODE: Advisory

Economic News/Analysis

Product/Service