Referenced Stocks

General Electric Unit to Auction Electric Transmission Capacity Connecting New York City and PJM Power Grids; Shares Down 2%

By Midnight Trader,  April 09, 2012, 10:36:59 AM EDT

General Electric ( GE ) said today that is unit, GE Energy Financial Services, will auction 225 megawatts of bi-directional electricity transfer capacity from its Linden variable frequency transformer (VFT) smart grid project.

This will consist of nine blocks of 25 megawatts of transmission scheduling rights that will become available on Nov. 1. The project can transfer 315 megawatts of capacity, enough for up to 315,000 homes, between PJM Interconnection and the New York Independent System Operator.

Shares are down 1.9% to $19.13, with a 52-week range of $14.02 - $21.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: GE



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