Itron, Inc. (NASDAQ:ITRI) announced today that CenterPoint Energy Inc.’s (CenterPoint Energy) natural gas distribution business will complete installation of advanced metering technology across the utility’s six-state service territory by the end of 2015. Communication modules to nearly 1.3 million gas meters have already been installed in parts of the company’s service territory in Minnesota, Oklahoma, Louisiana and Texas. Upon project completion, 3.3 million communication modules will be installed in these states as well as Arkansas and Mississippi.
The Itron solution includes communication modules that attach to CenterPoint Energy's customers' existing natural gas meters, allowing meter readings to be collected once a month by a mobile meter reading device mounted to CenterPoint Energy vehicles. This technology eliminates the need to enter yards to obtain monthly readings and improves the productivity of the utility’s meter readers by allowing a single employee in a vehicle to read up to 10,000 meters per day.
“Itron is proud to partner with our longtime customer CenterPoint Energy as they lead the gas industry in implementing gas distribution technologies,” said Carl Porter, vice president of sales, marketing and delivery for Gas North America at Itron. “Itron’s core mission is to provide value to our customers and help them achieve their business objectives. We look forward to continuing to work with CenterPoint Energy as they deploy Itron’s smart gas metering solution across their entire territory.”
About ItronItron is a global technology company. We build solutions that help utilities measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement and control technology; communications systems; software; and professional services. With thousands of employees supporting nearly 8,000 utilities in more than 100 countries, Itron empowers utilities to responsibly and efficiently manage energy and water resources. Join us in creating a more resourceful world; start here: www.itron.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts