PECO offers insight into balancing utility investment strategies
PECO is one of six utilities in the country to receive major stimulus funding under the US Department of Energy Smart Grid Investment Grant. PECO’s “Smart Future Greater Philadelphia” project is one of the largest investments in the company’s more than 100 year history, with an overall estimated project cost of up to $650 million. PECO CFO Phil Barnett will be providing insight into the strategy and challenges to developing financial strategies that support current and future reliability, performance and sustainability objectives at the KEMA 2010 Utility of the Future leadership forum.
The stimulus grant will allow PECO to deploy smart meters for all 1.6 million customers in approximately 10 years, rather than 15 years if the grant had not been received. According to analysis developed by Drexel University, the project may help customers save more than $1.5 billion in energy costs over its useful life. Smart Future Greater Philadelphia is expected to create more than 4,300 job-years of employment on an economy-wide basis, according to the Federal Office of Management & Budget. The initiative also supports the company’s ongoing reliability investments and environmental efforts.
Barnett explains, “Today’s utility capital investment plans must balance complex decision points. These include new electric and natural gas facilities, system improvements, and new technology upgrades to ensure service and reliability, address demand and regulatory changes. Balancing a capital program in a capital-constrained market poses new challenges and opportunities for utility financial strategy.”
Barnett will be part of the KEMA Utility of the Future 2010 panel focused on balancing investment strategies. KEMA’s third annual Utility of the Future Leadership Forum, “Strategic Choices – Striking Equilibrium” is gathering energy and utility industry CEOs who will be sharing their insights on strategy and challenges to engage customers and achieve a sustainable energy supply.
KEMA’s 3rd annual Utility of the Future leadership forum
June 23 – 25, 2010
The Four Seasons, Washington D.C.
Designed in concert with an advisory panel of insightful, forward-thinking senior industry executives, KEMA’s Utility of the Future leadership series provides a view from the top on critical issues facing energy and utility industry and stakeholders and offers opportunities for leaders to connect with their peers as they seek to build for the future.
To register, and for more information, visit: www.kema.com/UtilityFuture2010.
For a look into the insights gained from the previous years’ Utility of the Future leadership series, visit www.kema.com/UtilityFutureSeries.