Southern Company Completes $363 Million Smart Grid Investment

Southern Company (NYSE: SO  ) announced today that it has fully completed its $363 million smart-grid-investment project. Southern Company has been working on the improvements since 2009, when it received a $165 million Department of Energy grant to kick-start the initiative.

Smart-grid technology has allowed the utility to improve reliability while saving money. This technology is crucial to decentralized power-generation systems, and also aids in the preservation and/or swift recovery of power systems after disturbances like last week's polar vortex.

"As an industry leader in developing and deploying new technologies, Southern Company is committed to advancing our critical infrastructure and providing value to our customers," said Kimberly Greene, president and CEO of Southern Company Services. "The projects funded through the Smart Grid Investment Grant are enhancing our ability to efficiently and reliably meet customers' needs."

According to the report, the upgrades have already saved Southern 84,900 truck trips for service calls, contributing to more than $5 million in cost savings.

link


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2793201, ~/Articles/ArticleHandler.aspx, 7/22/2014 10:37:25 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement