PECO Energy Company, a subsidiary of Exelon Corporation (EXC), announced that it has allocated $500 million for capital investments in 2010 to develop facilities and make other operational improvements, such as creating energy efficiency programs.
The increased capex reflects about a 25% increase over last year with $42 million more for construction of new electric and gas facilities to modernize utility equipment and meet increased demand in certain areas, $22.7 million for smart meter development and energy efficiency programs, and nearly $18 million more for technology upgrades for its customer information management system and related platforms.
Over the past five years, PECO has invested nearly $1.78 billion mainly for improvements in its electric and gas delivery systems. Each year, the company’s capital investments are geared toward reliably meeting the energy demand of consumers in the Philadelphia region, supporting regional economic growth and quality customer service.
Among the projects will be two electric substations in South Philadelphia, work on high-voltage transmission lines to handle increased loads and facilities to support expansion of the Pennsylvania Convention Center, among other developments. The utility also will devote some money to develop smart meter and other energy efficiency programs. PECO, which is based in Philadelphia, operates under Exelon’s Energy
PECO is an electric and natural gas utility subsidiary of Exelon Corporation. PECO distributes electricity to 1.6 million customers and natural gas to 485,000 customers in southeastern Pennsylvania.
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