PJM approves almost $1B for more transmission upgrades

Dive Summary:

PJM Interconnection announced Wednesday that it had approved almost $1 billion for additional electric transmission upgrades.
The U.S. Mid-Atlantic and Midwest grid operator now has about $4.7 billion tagged for transmission projects in 2012.
Improvements are expected to include investments in substations, transformers and other existing facilities.

From the article:

Dec 6 (Reuters) - The operator of the U.S. Mid-Atlantic and Midwest power grid approved nearly $1 billion in additional electric transmission upgrades to help maintain reliable power supplies.

In a release late Wednesday, PJM Interconnection, which serves 60 million people in 13 states and the District of Columbia, said its board has now authorized $4.7 billion in transmission projects in 2012. ...