RICHMOND, Va., Jan. 19 /PRNewswire-FirstCall/ -- Dominion (NYSE: D), one of the nation's largest producers of energy, announced today that it has invested in Power Tagging Technologies Inc., a company with the potential to improve the flow of information on the smart grid.
Dominion has invested $3 million in the privately held company, which is based in Superior, Col.
"Power Tagging offers a key to opening a world of improved energy information and customer service through the smart grid," said Mary C. Doswell, senior vice president-Alternative Energy Solutions for Dominion. "We anticipate that for the first time, utilities will be able to measure, trace and audit the flow of electricity on the smart grid – in effect, to 'tag' it and follow it – with a technology that is embedded in the power grid itself rather than on a parallel communications network. This should improve the flow of information and help provide cost and environmental benefits."
With Power Tagging's technology, utilities would know immediately about changes in electrical flow on the circuit between a customer's home or business and the neighborhood substation, pinpoint problems and needed repairs, and manage specific consumer electricity demand.
Dominion studied Power Tagging's patent-pending Grid Location Aware™ technology through its Alternative Energy Solutions group. Dominion formed the group last year to provide technology research to support its business units, identify business opportunities, participate in the nation's energy policy development process, and provide an information- and idea-sharing forum within the company on conservation and load management and renewables.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of more than 27,500 megawatts of generation, 1.2 trillion cubic feet equivalent of proved natural gas and oil reserves, 14,000 miles of natural gas transmission, gathering and storage pipeline and 6,000 miles of electric transmission lines. Dominion operates the nation's largest natural gas storage systems with 975 billion cubic feet of storage capacity and serves retail energy customers in 12 states. For more information about Dominion, visit the company's Web site at www.dom.com
About Power Tagging
Power Tagging is the leader in next generation smart grid communications for the 21st century. Power Tagging's rapidly growing team is focused on delivering excellent solutions that fundamentally transform what is expected from the power grid. Power Tagging leverages its patent-pending technology for digitally "tagging" electric power and attached devices to drive solutions in grid mapping, fault isolation, electric vehicle integration, demand side management and grid cyber security. By working with utilities, the stewards of the power grid, Power Tagging solutions are ready for immediate adoption and maximal impact. For more information, please visit: www.powertagging.com
SOURCE Dominion Resources