LIBERTY LAKE, Wash.--(BUSINESS WIRE)--
British Columbia's electricity system is one more major step closer to
modernization today with the confirmation of Itron, Inc. (NASDAQ:ITRI)
as BC Hydro's metering system provider to supply approximately two
million new electric meters over the next two years as part of its Smart
Metering Program. The Smart Metering Program will keep rates lower than
they would have otherwise been in B.C. through savings of about $70
million in the first three years of implementation and a net benefit to
customers of over $500 million in the long term.
Itron will provide its OpenWay® smart meters, run over a
multi-application communication network powered by Cisco. The associated
system software and meter data management system are included in the
agreement, providing a cost effective, end-to-end solution. The contract
is worth approximately $270 million.
Itron was the successful proponent following a comprehensive and
detailed procurement process. "Itron is a top tier metering system
provider with proven smart meter solutions, extensive utility
experience, and a clear commitment to ensuring BC Hydro achieves our
Smart Metering objectives," said Gary Murphy, Chief Project Officer, BC
Hydro.
The Smart Metering Program will make BC Hydro's grid more reliable;
increase public and employee safety; provide immediate savings helping
to keep rates low; and cut down on energy theft. Some of the advantages
of smart meters over current mechanical meters include:
-
Knowledge when a customer's power is out and when it is has been
restored
-
Automated meter reading that provides up to date consumption and
billing information
-
Two way communications between the smart meter and BC Hydro for
improved efficiencies
-
Capture of voltage and power quality data — in addition to consumption
information — to optimize the operation of BC Hydro's electricity grid
-
Automated meter alarms to identify operational problems and some types
of theft
"BC Hydro's comprehensive program helps to advance the practical
evolution of grid modernization in North America," said Philip Mezey,
Itron President and Chief Operating Officer, Energy. "We are honored to
provide a functionally rich and comprehensive solution that will help BC
Hydro meet long-term goals, deliver operating benefits, and empower its
customers."
In addition to BC Hydro, several large utilities in North America are
deploying Itron's OpenWay system, including Southern California Edison,
San Diego Gas & Electric, CenterPoint Energy and Detroit Edison. Itron
now has over 16 million OpenWay units under contract.
Itron joins Vancouver-based Corix and international leaders Capgemini as
suppliers to BC Hydro's Smart Metering Program.
About Itron:
At Itron, we're dedicated to delivering end-to-end smart grid and smart
distribution solutions to electric, gas and water utilities around the
globe. Our company is the world's leading provider of smart metering,
data collection and utility software systems, with nearly 8,000
utilities worldwide relying on our technology to optimize the delivery
and use of energy and water. Our offerings include electricity, gas,
water and heat meters; network communication technology; collection
systems and related software applications; and professional services. To
realize your smarter energy and water future, start here: www.itron.com.
About BC Hydro:
British Columbia is growing, and so is the need for electricity. BC
Hydro is dedicated to fulfilling its goal of meeting at least 66 per
cent of the province's future electricity needs through conservation by
2020. But in order to meet the remaining demand and continue to ensure a
clean, reliable supply of energy, BC Hydro is investing now in the
projects that are needed to keep the lights on in BC province for the
next 50 years.
BC Hydro Media Relations
Direct: 604-928 6468
Web: www.bchydro.com/media
or
Itron
Ranny
Dwiggins, 509-891-3443
Vice President, Investor Relations
ranny.dwiggins@itron.com
Sharelynn
Moore, 509-891-3524
Director, Itron Marketing & Communications
sharelynn.moore@itron.com
Source: Itron, Inc.
News Provided by Acquire Media
