GE has secured a contract worth over $200m from ComEd, a subsidiary of energy firm Exelon, to deliver about four million smart meters to modernize grid in Chicago, US.

The contract which runs through 2021 requires GE to deliver meters, which will allow two-way communication between ComEd and its customers to better manage their energy usage and detect as well as restore power outages.

ComEd anticipates to transform the delivery of electricity to homes and businesses by deploying advanced meters across its service territory, along with other components of its grid modernization initiative.

ComEd president and CEO Anne Pramaggiore said the implementation of smart meters will strengthen economic growth, create jobs and modernize electric grid.

"Working side by side with GE, we are able to create a modernized grid that will improve reliability, provide new ways to save energy and money and benefit the Illinois economy," Pramaggiore added.

ComEd committed to invest over $2.6bn over 10 years to modernize its electric grid in Northern Illinois under Illinois’ 2011 Smart Grid Law.

GE Digital Energy business general manager of sales in North America Mark Hura said, "The Illinois Smart Grid program will provide ComEd’s customers with the benefits of a modern grid and help GE grow its local workforce in Chicago."