Redwood City, Calif., September 1, 2010 — Silver Spring Networks, a leading provider of smart grid solutions, signed a definitive agreement with Baltimore Gas and Electric Co. to provide its smart grid platform and related software and services in support of BGE’s recently approved smart grid Initiative.
Silver Spring will act as the prime contractor for networking technology, smart meters, gas modules and related solutions for a project that BGE has estimated will deliver more than $2.5 billion worth of customer savings.
“BGE is pleased to partner with Silver Spring Networks in delivering the significant transformational benefits of smart grid to each of our 1.2 million customers,” said Kenneth W. DeFontes Jr., president and CEO of BGE. “Those benefits include at least $2.5 billion worth of savings for BGE customers over the life of the project, as well as major new enhancements in customer service and reliability. We look forward to benefiting from Silver Spring’s proven technology — technology that is the backbone of smart grid implementation by leading utilities throughout the U.S. and abroad.”
Silver Spring’s Smart Energy Platform will create a secure, end-to-end IPv6 platform for BGE to deliver on operational benefits today while also ensuring tomorrow’s energy challenges can be met with a scalable and open platform.
In addition, it will help the state of Maryland meet its aggressive energy efficiency and conservation goals, enhance the services it provides its customers as well as add jobs, both direct and indirect, as a result of the implementation of its smart grid.
“BGE’s Smart Grid Initiative has defined a new standard for the global utility industry. Their vision will redefine consumers’ relationship with energy,” said Scott Lang, Chairman, President and CEO of Silver Spring Networks. “We are truly honored to be chosen by BGE to lead the delivery and execution of this important initiative.”
Through its deployment of the Silver Spring Smart Energy Platform, Silver Spring will deliver its proven and secure IPv6 network platform, advanced metering solution including smart meters from GE and L&G, gas modules, fully managed Utility IQ back office environments and deployment services to ensure a quality implementation of BGE’s smart grid.
Silver Spring Networks is a smart grid solution provider that enables utilities to achieve operational efficiencies, reduce carbon emissions and empower their customers with new ways to monitor and manage their energy consumption.
BGE, headquartered in Baltimore, is Maryland’s largest gas and electric utility, delivering power to more than 1.2 million electric customers and more than 640,000 natural gas customers in Central Maryland.