GE, Silver Springs Networks to work on Illinois grid modernization project

Silver Springs Networks GE ComEd Exelon Illinois grid modernization smart meters

ComEd, a unit of Exelon Corp. (NYSE: EXC), picked GE (NYSE: GE) to deliver 4 million smart meters over the next eight years as part of a grid modernization project in Illinois for $200 million.

In addition to the smart grid project, Silver Spring Networks (NYSE: SSNI) is opening an office in Chicago to support ComEd's 10-year, $2.6 billion grid modernization project to strengthen the Illinois electric system. The office is expected to employ dozens of field engineering, project management, sales and marketing, and network infrastructure management professionals. A network operations center is also planned to serve both ComEd’s infrastructure modernization initiative and act as a command center for smart grid programs across the Midwest.

As part of the state's 2011 Smart Grid Law, ComEd will invest more than $2.6 billion over 10 years to modernize its grid in northern Illinois, with more than $1.3 billion earmarked to build a smart grid network and install smart meters in 4 million homes and businesses. The meters will give customers with hourly data on their energy usage and will help alert the utility to power outages.

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