Oncor Supports Industry Pledge to Jump Start Electric Vehicle Industry

 Oncor enthusiastically supports the announcement today by Edison Electric Institute, the national trade association for electric utilities, to accelerate full-scale commercialization of electric vehicles and make electricity a vital transportation fuel. EEI Chairman Tony Earley, Ford Motor Company Chairman Bill Ford, and Michigan Gov. Jennifer Granholm made the joint announcement at the “Business of Plugging In” conference in Detroit.

“Oncor embraces and endorses this industry pledge to move forward with speed and certainty toward the nation’s goal of putting one million electric vehicles on the road by 2015,” said Bob Shapard, Oncor Chairman and Chief Executive. “Oncor is already laying the groundwork for making plug-in electric transportation a reality, not a vision. The most important element in the success of plug-in vehicles is the advanced meter, and Oncor is a leader in the nation in bringing this technology to everyone it serves.”

Shapard explained that through Oncor’s leadership in the development of smart grid technologies, including the total replacement of all 3.4 million old-fashioned meters in the Oncor system with advanced meter systems, Oncor is supporting the introduction of dynamic pricing that will encourage development of a Texas-based electric vehicle industry.

In addition, Oncor’s investment in new transmission lines to move wind power from West Texas to more-populated areas in Texas will make clean, renewable energy available at night to charge electric cars, a dynamic combination equivalent to the development of the microchip in the technology industry.

“Electric vehicles powered by clean, renewable energy produced at night when electric load is light makes good economic and environmental sense,” said Shapard. “Texas has all the elements in place – an emerging smart meter system that enables electricity retailers to offer real-time pricing, abundant, accessible wind power resources, and an environment that encourages innovation and creativity.”

Oncor Electric Delivery Company LLC (“Oncor”) is a regulated electricity distribution and transmission business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor operates the largest distribution and transmission system in Texas, delivering power to approximately 3 million homes and businesses and operating approximately 117,000 miles of transmission and distribution lines in Texas. While Oncor is owned by a limited number of investors (including majority owner, Energy Future Holdings Corp.), Oncor is managed by its Board of Directors, which is comprised of a majority of independent directors.