Dominion invests in smart grid company

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Dominion Resources has invested $3 million in Power Tagging Technologies Inc., a company working to improve utilities’ ability to track the flow of electricity.

Power Tagging, based in Superior, Colo., is developing technology through a smart grid that would let utilities know immediately about changes in electrical flow to their customers, allowing them to find problems and necessary repairs.

“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,” Mary C. Doswell, senior vice president, alternative energy solutions for Dominion, said in a statement. “This should improve the flow of information and help provide cost and environmental benefits.”

Dominion studied Power Tagging’s Grid Location Aware technology through its Alternative Energy Solutions group, which was created last year to identity business opportunities and research energy conservation, load management and renewables.

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