Yesterday, Incoho Advanced Technologies announced that it has signed into a licensing agreement with utility company PECO to commercialize its Meter Defender technology, an Internet of Things system (IoT) developed by PECO’s innovation group.
Meter Defender combines an IoT device, cellular communications, and SaaS software to give utilities line-of-sight to meter tampering and electricity theft. The devices sense any motion and alert the utility of any unauthorized access, allowing it to dispatch crews and immediately respond. Installation is quick and easy, utilizing a mobile app to arm the device and establishing a chain of evidence with a short description and pictures.
In 2013, Forbes estimated electricity theft costs US utilities $6B annually, line-loss that electric rate-payers ultimately fund.
Incoho said in a press release that the technology helps utilities lower costs (by avoiding unnecessary and expensive truck rolls), reduce theft of electricity, and improve safety for utility workers and customers.
“It’s very dangerous for any of our electric customers to tamper with electrical equipment in the field,” said Kristen Chance, manager, Revenue Protection, PECO. “Fortunately, the ability to rapidly respond to theft is a big deterrent to further tampering.”
“We appreciate PECO’s trust in licensing this technology to Incoho,” said Jeff Elliott, CEO of Incoho. “This is the first of multiple IoT solutions we plan to bring to the utility industry based on our years of experience in the sector.”
Incoho and Incoho Advanced Technologies provide consulting and technology incubation services, largely for the utility sector.
PECO is Pennsylvania’s largest electric and natural gas utility, delivering energy to more than 1.6 million electric customers and more than 532,000 natural gas customers in southeastern Pennsylvania. PECO is a subsidiary of Exelon