The agreement marks the culmination of negotiations that began in November 2009 after the DOE selected CenterPoint Energy as one of six utilities to receive the maximum smart grid grant under the American Recovery & Reinvestment Act.
The CenterPoint Energy Houston Electric grant application requested $150m to accelerate its current installation of smart electric meters and associated equipment that make up its Advanced Metering System (AMS).
The application also requested $50m for building a self-healing Intelligent Grid that utilizes the AMS and other technologies to improve operational efficiency and power reliability in greater Houston.
Since March 2009, CenterPoint Energy Houston Electric has installed more than 267,000 smart meters and, with the aid of the grant, expects to complete installation of over 2 million smart meters, along with the necessary communications infrastructure and computing systems, in 2012. The initial Intelligent Grid deployment is expected to be completed in 2013.
Tom Standish, group president of regulated operations at CenterPoint Energy, said: “We are very pleased to have finalized this agreement with the DOE to help accelerate the deployment of our advanced metering system and fund the first phase of an intelligent grid.
”These funds will help deliver the benefits of smart meters and the intelligent grid to Houston-area electric consumers sooner while reducing the amount that they will have to pay for this significant upgrade to the electric grid.”
