GE Energy Chosen by Pepco Holdings to Deliver Smart Meters, Enabling Consumers to Better Manage Energy Usage and Costs

ATLANTA - GE Energy has reached an agreement with Pepco Holdings, Inc., (PHI) an electric utility that will buy GE’s state-of-the-art smart meters for use in the deployment of its advanced metering infrastructure (AMI) in the state of Delaware, with flexibility to expand usage of the smart meters in other areas of PHI’s service territory.

Smart meters are among the fundamental building blocks of smart grid deployments. They track and report energy usage by time of day, enabling utilities to charge less for electricity used during off-peak hours. As a result, consumers can choose to shift energy-intensive activities to times when rates are lower to save on energy costs.

“Smart meters are the consumer touch-point of the smart grid, giving people real choice in how they spend—and save—their energy dollars,” said Bob Gilligan, vice president, transmission and distribution at GE Energy. “As government officials move to a new level of energy awareness, it is only fitting that one of America’s original energy companies is part of the solution.”

With a never-ending increase in energy demand, a shortage of new generation sources and concern over climate change, the smart grid is emerging as a valuable tool to deliver more power to consumers without building more power plants. It promises increased efficiencies, a reduction in peak power requirements, and improved integration of renewable energy resources – all helping to slow the demand for new fossil-fuel generation. If U.S. Smart Grid deployments increase grid efficiency by just 5 percent, it will eliminate the need to build 42 coal-fired power plants.1

“PHI’s vision is to change the relationship we have with our customers,” said Joseph M. Rigby, president and chief executive officer of PHI. “With new digital smart meters and the smart grid, PHI’s utilities will be able to provide up-to-date energy information and tools that will help our customers manage their energy use and costs. PHI is proud to be a leader in the transformation of the electric delivery industry.”

Communications technologies within GE’s smart meters will also help PHI detect and better respond to power outages, further improving the energy experience for PHI consumers and business customers alike. Installation of the GE meters is expected to begin in the fourth quarter of 2009 in Delaware.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.

About GE

GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s Web site at http://www.ge.com. GE is Imagination at Work.

1Commissioner Wellinghoff, U.S. Federal Energy Regulatory Commission testifying to U.S. Congress, May 2007