GE Backing ComEd's Efforts to Modernize Power GridPDF
• Upgrades to Electrical Infrastructure Will Power Economic Growth, Reduce Environmental Impact and Improve Lifestyles
• Modernization Efforts Will Create Local Manufacturing Jobs
CHICAGO, ILL.—October 24, 2011—GE (NYSE: GE) today announced that it is supporting ComEd's plans to modernize the electric grid and build the infrastructure to power 21st-century economic growth. As a world leader in grid-modernization technology, GE believes ComEd's efforts are vital to delivering efficient, reliable power to meet the area's growing energy needs.
"A vital energy infrastructure is essential to powering economic growth and supporting business, industry and the vibrant lifestyles of a skilled workforce," said John Krenicki, president and CEO of GE Energy. "From manufacturing and service industries to consumers and government, nearly every important advance made today relies on energy. ComEd's grid modernization initiatives will deliver that energy and give businesses powerful reasons to invest in Illinois-area operations—today and into the future.
With more than half of America's grid infrastructure beyond or approaching its retirement age, grid upgrades are unavoidable, but they also can be opportunity drivers. Recent technology and automation breakthroughs make today's upgrades the foundation for a more secure, clean and reliable energy tomorrow. Regions that make the right grid choices today will have a competitive advantage well into the future over locations with aging, less reliable energy infrastructure.
"In addition to more reliable electricity, grid modernization will deliver another meaningful benefit to the ComEd service area," said Bob Gilligan, president and CEO, GE's Digital Energy business. "To support ComEd's plans, GE and other local companies will need to add local manufacturing and service jobs to build and install the specialized components required for grid modernization."