Oncor Wants $317 Million in Federal Funds
June 29, 2009 by Stephen Kersey
Filed under Business
Oncor, a company in the electric distribution and transmission industry, has told the United States Department of Energy that they are about to apply for $317 million in federal funds. The funds will reportedly be used for smart grid initiatives.
“Oncor’s vision for a modern, interactive, intuitive electric grid is real, tangible and happening now,” said Bob Shapard, the CEO of Oncor. “Our first considerations in seeking these stimulus grants are whether the funds will help consumers lower their electric bills or advance smart grid initiatives to improve service and reliability. That’s where we have focused our attention and energy.”
The company says that $200 million will go towards lowering costs, $58 million will go towards network and telecommunication investments and another $58 million will go towards to improve reliability and service.
In Texas, Oncor powers about three million houses and businesses.
Light Bulb Power (Image: Flickr)
