Itron, Inc. (ITRI) has been selected by ERDF (Électricité Réseau Distribution France), an electricity distribution network operator in France, for its Linky smart grid program. The program aims at improving electricity distribution in France with intelligent metering and communications network.
ERDF is a distribution subsidiary of the Electricité de France Group (EDF) and manages the public electricity distribution network for 95% of continental France. Notably, ERDF will replace 35 million meters, according to the EU directive for 80% of meters to be smart by 2020.
Itron's smart grid solution is the IP-based solution that aligns with smart grid vision along with simplifying and reducing integration costs and difficulties. Itron being the main supplier in Linky pilot project, will supply 1.2–1.6 million of Linky smart meters for the first phase of the program, from Sep 2015 through the end of 2016.
Smart grid technology will help ERDF to improve electricity delivery and intrude for the digital revolution by supporting the deployment of smart grids in France. With the help of Linky Smart meters, consumers can monitor the consumption of electricity on a daily basis and manage their expenses.
In addition, the meters will help to transmit data and perform remote operations to enable integration of renewables, diverse tariff implementation and improved outage management. It will also allow data to be exchanged continuously on the intelligent electricity network that will optimize energy infrastructure to reduce consumption and increase efficiency.
FirstEnergy has earlier signed a contract with Itron on Mar 2014 to deploy Itron's OpenWay smart grid solution across its four Pennsylvania-based utilities to modernize FirstEnergy's electricity distribution system and enable advanced capabilities and consumer programs.
In its attempt to simplify the way of smart grid offering and to provide advanced metering infrastructure (AMI) solutions to customers the company launched Itron TOTAL on Feb 2014. Itron's existing industry-leading capabilities in metering, communications, data management, analysis and professional services and packages will get a simplified into a compact subscription-based pricing structure with complete managed services, with Itron TOTAL.
Itron's growth mainly depends on leveraging smart technologies and data expertise through innovative new software and services which will help in increasing payback opportunities for utilities to deploy smart systems, by helping them to unlock more value from the data.
Liberty Lake, WA-based Itron Inc., along with its subsidiaries, is one of the principal technology providers to energy and water industries worldwide. It produces electricity, gas, water and heat meters, data collection and utility software solutions as well as various other associated metering products. The company provides its services to residential, commercial and industrial customers, along with transmission and distribution customers.
Itron currently carries a Zacks Rank #2 (Buy). Some other stocks worth considering in the electrical test equipment industry include Ametek Inc. (AME), Cognex Corp. (CGNX) and National Instruments Corp. (NATI) carrying a same Zacks Rank as Itron.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment