U.S. Senator Susan Collins today announced that the Central Maine Power Company will receive $95,900,000 in Smart Grid grant funding from the Department of Energy. The funding will be used to install a “smart meter” network for all residential, commercial and industrial customers in CMP’s service territory - approximately 650,000 meters.
“Smart meter technology will accelerate CMP’s plans to complete its Advanced Metering Infrastructure and allow customers to see in “real time” how much electricity they are using,” said Senator Collins. “Customers could then make informed decisions to decrease their usage during peak load times therefore reducing energy consumption and saving money.”
In a letter sent to the Department of Energy last month, Senator Collins strongly supported CMP’s application for this funding. In the letter, Senator Collins wrote that CMP has a longstanding working relationship with the Maine Public Utilities Commission, and has assembled an experienced team of project managers, subject matter experts, vendors and external consultants to complete the necessary installation of the “smart meter” network.
This funding is included in a $3.4 billion investment in Smart Grid technology being announced today by the President. It’s the largest single Smart Grid modernization investment in U.S. history. The funds are part of the American Recovery and Reinvestment Act which Senator Collins worked to craft earlier this year and will be matched by industry funding for a total public-private investment worth more than $8 billion.