CLAIM #23276 · EXC (EXC) · 2023Q2 earnings call · Aug 2, 2023 · due Jun 30, 2024
“Once it’s fully energized, which is expected by the second quarter of ‘24, the Civic substation will be PECO’s newest and most modern insulated substation.”
Jeanne Jones · CFO
In context
“roperty. PECO’s commitment to building for the new civic substation began in 2019. This $130 million project includes installation of insulated switchgear and modifications to 4 69-kV and transmission lines into civic substations that will allow for the retirement of 2 69-kV transmission lines currently running under the [indiscernible]. The new substation is expected to increase distribution and transmission reliability through the reconfiguration of the lines and increased flood resiliency in the low-lying areas surrounding the substations, where access has been restricted in the past following heavy thunderstorms. It will also enable PECO to relieve low constraints, supply additional capacity to the University City area and better serve critical customers on the west side of the river. Once it’s fully energized, which is expected by the second quarter of ‘24, the Civic substation will be PECO’s newest and most modern insulated substation. While traditional open-air substation construction would have required 5 to 7 acres of land, the upgraded electrical that meant associated with the insulated substation allows PECO to build on less than a 2-acre plot of land. That represents a 60% to 70% reduction in required land use. Since project inception, PECO has partnered with its customers, government agencies and other local utilities to ensure construction of the Civic substation has a minimal impact to the city of Philadelphia, the surrounding customers and on the environment, protecting the nearby waterway and riverbank. With vital customers in the area such as the Children’s Hospital of Philadelphia, the University of Pennsylvania Hospital and the Philadelphia Veteran Affairs Medical Center, operational excellence is imperati”
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SEC filings for EXC ↗ · Claim quote is verbatim from the 2023Q2 earnings call.