) subsidiary Commonwealth Edison Company (ComEd) announced the
completion of digital improvement of its first substation called
Wallace, based in the South Side of Chicago. This substation
modernization activity comes under the company's 10-year Grid
Modernization Program to follow the Energy Infrastructure
Modernization Act (EIMA).
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Per this upgrade program, ComEd has installed a state-of-the-art
technology to decrease occurrence and length of power outages.
The company has fitted an Intelligent Substation Dashboard that
offers information on the total condition of each part of the
substation and converses directly with the employees, if
something goes wrong. The digital technology enables ComEd to
recognize fault locations and take instant actions.
As a result of this infrastructure and technology upgrade
program, both ComEd as well as its customers will be benefited in
the future. The implementation of modern expertise enables the
company to provide uninterrupted services to its 28,000 strong
customer base, strengthen system competence and reduce
malfunctions. We believe these factors will subsequently improve
reliability, consumer confidence and public safety.
The EIMA was introduced by Illinois General Assembly in 2011 to
invest for developing and upgrading the state's electric
infrastructure. This rule also allows the utility providers the
right to recover their actual investments in the future.
The program will help ComEd to provide uninterrupted electricity
service with less outages and faster restoration. It would also
offer customers more information as well as generate more than
$2.3 billion in customer savings. Further, this project will
create 2,000 full-time jobs in the future.
Exelon's intention to upgrade its electricity distribution assets
is evident from its capital spending program. In 2013, the
company plans to invest $5.5 billion with $1.4 billion allocated
for the improvement of distribution infrastructure.
Chicago, IL.-based Exelon Corporation currently has a Zacks Rank
#3 (Hold). Other stocks from the industry that are presently
performing better include
Brookfield Infrastructure Partners L.P.
Otter Tail Corporation
Pike Electric Corporation
). All the three stocks carry a Zacks Rank #1 (Strong Buy).