Pepco Holdings Inc. (POM) said that the U.S. Department of Energy has selected the company to receive $168.1 million in federal stimulus funds to help build the smart grid in the District of Columbia, Maryland and New Jersey. The grants will be finalized in the coming weeks through negotiations with DOE.
The company said that it would use the money to help offset the cost to customers for installing meters and modernizing the electric grid. The smart grid will create new green jobs, boost the economy and lay the technological groundwork for customers to better manage their energy use and reduce carbon emissions generated by fossil-fueled power plants.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.