Power company Duke Energy awarded $204M for ’smart’ grid technology

Duke receives $204M for ’smart’ grid technology

CHARLOTTE, N.C. — Power company Duke Energy said Tuesday it has been awarded federal grants of $204 million, much of it to go toward modernizing its utility operations in Indiana and Ohio.

The award is part of the $3.4 billion in government support for 100 projects announced Tuesday by President Barack Obama.

Charlotte-based Duke said $200 million will go toward its plans to install new “smart” meters for its 700,000 electric and 450,000 natural gas customers in Ohio and 800,000 electric customers in Indiana along with improvements to its power grid that include its transmission system. A separate grant of $4 million will make improvements to the grid for Duke’s operations in the Carolinas.

Duke plans to spend $1 billion on the improvements in Ohio and Indiana as it looks to make its system more efficient and reliable.