Business & Finance
Business and Finance
Business and Finance
Mon, February 9, 2009Fri, February 6, 2009Thu, February 5, 2009Wed, February 4, 2009Tue, February 3, 2009Mon, February 2, 2009Sun, February 1, 2009Fri, January 30, 2009Thu, January 29, 2009PHI Awards Smart Grid Contract to Silver Spring Networks
Published in Business and Finance on Tuesday, February 3rd 2009 at 11:15 GMT, Last Modified on 2009-02-03 11:16:39 by Market Wire
WASHINGTON--([ BUSINESS WIRE ])--Pepco Holdings, Inc., (NYSE:POM) announced today that it has selected Silver Spring Networks (SSN) to provide the networking products and services necessary to build a Smart Grid network that will eventually serve the utility's 1.9 million customers in Delaware, the District of Columbia, Maryland and New Jersey.
Initial deployment will occur in the Delmarva Power service territory in Delaware, with full deployment to all PHI customers anticipated by 2013, pending regulatory approvals. Under the multi-year agreement, Silver Spring Networks will provide network infrastructure, devices, software and a variety of services in support of PHI's smart grid deployment. The smart grid is a major component of the company's plan to use advanced technologies and energy efficiency programs to address high energy costs and the impact of energy use on the environment.
"PHI is on the leading edge of what will be one of the most significant changes in our industry," said Dennis R. Wraase, Chairman and Chief Executive Officer of PHI. "Utilities are looking for new ways to provide greener energy, greater reliability and customer-focused solutions to help control energy bills. By moving forward with the smart grid, we are building a platform to achieve this goal."
Pepco Holdings, Inc. (NYSE:POM) is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 1.9 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries, Pepco, Delmarva Power and Atlantic City Electric, provide regulated electricity service; Delmarva Power also provides natural gas service. PHI provides competitive wholesale generation services through Conectiv Energy and retail energy products and services through Pepco Energy Services.
Silver Spring Networks creates the critical networking infrastructure for the Smart Grid, known as a Smart Energy Network.Based on the Internet Protocol (IP) suite, it addresses the challenges of running multiple applications and devices on a common networking infrastructure using multiple transport technologies, dramatically improving efficiency, lowering costs and ensuring the reliable delivery of services. This smarter, more efficient grid could cut the growth rate of worldwide energy consumption by more than half over the next 15 years and drastically reduce carbon emissions.Silver Spring Networks was named a Technology Pioneer at the 2008 World Economic Forum in Davos, Switzerland, was named to the 2008 Red Herring 100, 2008 Global 250 and was a recipient of the GoingGreen and Brilliant Innovation Awards in 2007.For additional information, visit [ www.silverspringnetworks.com ].
