SPOKANE, Wash., September 17, 2002 — Itron Inc. announced it is in the final stages of negotiations for a contract with a large utility to provide the utility with automatic meter reading (AMR) technology for over 2.0 million of the utility’s residential and small commercial customers over a three-year period commencing October 1, 2002.
According to the terms of the contract, which Itron expects to sign shortly, Itron will manufacture and supply technology to the utility for retrofitting approximately 550,000 natural gas meters. Another 1.5 million electric meters that incorporate Itron’s proprietary licensed technology will be provided by a meter manufacturer.
In addition, Itron will provide software and reading technology for all 2.0 million plus meters, as well as assistance with project management and other services. Itron officials estimated the value of the contract to be nearly $35 million. Once meters are equipped with AMR technology, a utility employee will drive down the street and capture meter readings through short-range radio signals transmitted from the meters to a computer-equipped vehicle.
The recorded information will then be transferred into the utility’s customer billing system, and a timely, accurate bill will be printed.
“To ensure continued growth and success in recently’s business climate, utilities are seeking new and innovative ways to increase operational efficiencies and deliver the highest level of value to their customers,” said LeRoy Nosbaum, Itron Chairman and CEO.
“Itron’s proven knowledgebased technology solutions help our customers achieve these fundamental business objectives, and we look forward to working with this customer on the successful implementation of this large-scale deployment of our technology.”
Itron is a technology provider and critical source of knowledge to the global energy and water industries. More than 2,000 utilities worldwide rely on Itron technology to deliver the knowledge they require to optimize the delivery and use of energy and water.
Itron delivers value to its clients by providing industry-leading solutions for meter data collection, energy information management, C&I customer care, load management and demand response, transmission and distribution system design software and services, and web-based workforce automation. Itron’s website can be found at www.itron.com