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Itron Inc. ( ITRI - Analyst Report ) recently announced the completion of the installation of more than 150,000 Itron gas meter communication modules in Greater Houston for a natural gas distribution subsidiary of CenterPoint Energy Inc. ( CNP - Analyst Report ) . The project will include a total of 1.2 million communication modules and will be completed by 2013.
These meters can effectively do away with the necessity of entering the premises of customers to take the readings manually. These communication modules employ the radio transmitting devices attached to the CenterPoint Energy’s customers’ existing natural gas meters, enabling the collection of readings once a month by a mobile meter reading device mounted to a CenterPoint Energy vehicle.
According to Itron, CenterPoint is an old and valued customer and Itron is looking forward to conferring the benefits of smart metering upon its natural gas customers. Setting up Itron’s ChoiceConnect 100G Datalogging ERT gas modules will give CenterPoint Energy customers both greater accuracy in meter reading and enhanced customer satisfaction.
The growing popularity of Itron’s electric and gas meters is chiefly due to their automatic feature, accuracy, efficiency and the convenience given to customers. Besides, these meters simplify and make the entire process of taking readings hassle-free.
Prior to this, Itron Inc. began installing the first of 1 million 100 G Datalogging gas ERT modules for Alberta based ATCO Gas. Itron’s ChoiceConnect metering solution was used essentially 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.
Besides, Itron along with Tropos Networks was also chosen by Avista Corp. ( AVA - Snapshot Report ) and DTE Energy Co. to develop Smart Grid solution in order to simplify the energy distribution system and increase the accountability, reliability and efficiency of the system. We currently have a Zacks #4 Rank (short-term ‘Sell’ recommendation) on the stock.
Itron is a leading technology provider to the global energy and water industries. It is the world's leading supplier of 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. It competes with the likes of General Electric Co. ( GE - Analyst Report ) and Roper Industries Inc. ( ROP - Snapshot Report ) .
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