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ComEd and Silver Spring Networks Expand Successful Smart Grid ProgramREDWOOD CITY, Calif. --(Business Wire)-- Silver Spring Networks, a leading smart grid networking platform and solutions provider, today announced it has finalized agreements with Commonwealth Edison (ComEd), a unit of Chicago-based Exelon Corporation, to deploy its Smart Energy Platform to network nearly 4 million homes and businesses and Distribution Automation devices under the recently enacted Energy Infrastructure Modernization Act (EIMA), a key initiative for the state of Illinois. ComEd's 10-year, $2.6 billion Infrastructure Investment Plan invests $1.3 billion to strengthen the electric system and another $1.3 billion to add new smart grid technology. Overall the modernization effort will create more than 2,000 full time equivalent jobs at peak in construction, engineering, IT, dispatching, equipment distribution and energy efficiency. Once the agreement is reviewed by the Illinois Commerce Commission (ICC), ComEd will begin installing smart meters. Silver Spring Networks will open a new office in Chicago and establish a network operations center that will include dozens of new jobs in sales, marketing, network operations, project management and field engineering to support the build-ou. Previously Silver Spring and ComEd partnered on an Advanced Metering Infrastructure pilot program which demonstrated significant operational benefits for full-scale deployment including improved outage management. The pilot also demonstrated that providing customers with new pricing and information options using advanced technology can produce additional customer savings. "We are honored to expand upon our successful partnership with ComEd in support of their vision and commitment to better serve their customers and prepare for the unique challenges of the 21st century," said Scott Lang, chairman, president and CEO of Silver Spring Networks. "We are delighted to bring new green jobs to the City of Chicago as well as the benefits of a modern grid - increased reliability, consumer choice and energy efficiency - to the state of Illinois." The smart grid program will connect nearly 4 million homes and businesses over a 10-year period using Silver Spring's unified networking platform running multiple applications, including advanced metering and distribution automation. Silver Spring's secure and open networking platform demonstrates the benefits of the smart grid and uniquely delivers against the requirements of the groundbreaking Energy Information Modernization Act. About Silver Spring Networks Silver Spring Networks is a leading smart grid networking platform technology and solutions provider. We have connected over 10 million homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Our innovative products enable utilities to gain efficiencies, integrate renewable energy sources and empower customers to monitor and manage energy consumption. Silver Spring Networks clients include Baltimore Gas & Electric, CitiPower & Powercor, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric and Pepco Holdings, Inc. among others. For more information please visit www.silverspringnet.com.
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