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Exelon: Bge Completes Smart Grid Project; Savings Will Exceed One And A Half Billion Dollars

The following excerpt is from the company's SEC filing.

The utility files proposed adjustment to rates to recover project investment after demonstrating that for every dollar spent customers realize about $2.50 in savings

Baltimore Gas and Electric

(BGE) has completed its five-year smart grid initiative to upgrade more than 1.7 million electric and gas meters and activate new customer savings programs. Over the next 10 years, smart grids operational and customer benefits are expected to lead to more than $1.5 billion in savings. The company has filed with the Maryland Public Service Commission (PSC) to recover the cos ts of the upgrade initiative through an adjustment to electric and gas distribution rates. BGE deferred recovery of its smart grid investment until the company was able to demonstrate that the systems benefits were greater than its cost, as required by the PSC when it granted BGEs request to proceed with the project in 2010. Now that the upgrade is completed, BGEs filing demonstrates that for every dollar invested in smart grid, customers are realizing approximately $2.50 in benefits. The filing also discusses benefits in addition to those quantified, including future capabilities that will improve operations and energy efficiency.

With upgraded meters in place throughout our service area, we have seen the benefits are substantial and sustainable, said Calvin G. Butler, Jr., chief executive officer of BGE. As promised when the project was approved, we would not seek to begin recouping costs through customer rates until we could show that customer benefits exceeded the costs. The energy and cost-savings tools available through smart meters have allowed customers to save significantly on their bills. Our company has also realized operational savings that we have been able to pass on to customers.

Smart meter benefits include:

Bill credits: customers with smart meters have been able to earn more than $28 million in total bill credits by...