Itron Inc. (ITRI) begins installing the first of 1 million 100 G Datalogging gas ERT modules for Alberta based ATCO Gas. Over a period of four years Itron will take care of all the processes starting from project management to end point installation.
Itron’s ChoiceConnect metering solution will be used chiefly to leverage the 100G modules and their proven remote data collection technology to automate the meter reading process in order to collect reliable monthly reads.
This practice will ultimately lead to a marked improvement in billing accuracy along with customer convenience. It would also result in significant operational efficiencies, reducing potential safety risks for field workers. Besides, the technology provides cost-effective and adaptable environment for the customers to operate more efficiently.
Itron seems to be expecting certain benefits from a number of deals. The company has recently received a contract from British Columbia Hydro (BC Hydro) to supply two million new electric meters over the next two years as part of its Smart Metering Program. The value of the contract is approximately worth $270 million.
We currently have a Zacks #3 Rank (short-term Hold recommendation) on the stock.
Itron is a leading technology provider to the global energy and water industries. The company is also foremost in offering intelligent metering, data collection and utility software solutions with nearly 8,000 utilities worldwide, relying on its technology to optimize the delivery and use of energy and water. Itron competes with General Electric Co. (GE), Roper Industries Inc. (ROP) and Schneider Electric SA.
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