Itron’s Advanced Settlement Module Provides High Granularity, Industry-Leading Integration and Complete Energy Market Coverage

Rhea-AI Summary

Itron, Inc. is launching Itron Enterprise Edition (IEE) Settlements, an advanced settlements solution for utilities globally. The module provides visibility into the entire energy market, addressing complexities from distributed energy resources. It offers real-time data integration, automated settlement calculations, customized reporting, scalability, regulatory compliance, and enhanced security.

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• Itron's IEE Settlements provides utilities with advanced automation and adaptability, helping them meet their needs in the dynamic energy market.

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Advanced Module Provides Visibility into the Entire Energy Market, Addresses Complexities from Distributed Energy Resources

LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, is unveiling Itron Enterprise Edition (IEE) Settlements, which provides an advanced settlements solution for utilities globally. From five-minute settlements to integrating the newest entrants into the energy market, such as wind, solar, batteries and Virtual Power Plants (VPPs), IEE Settlements sets a new standard for granularity in energy market coverage and reporting. It addresses utilities’ needs today and is ready for future regulatory, market and environmental changes. With IEE Settlements, utilities have the ability to enhance data collection and submission to account for the multitude of energy participants within their territory and address the complexities created by distributed energy resources. The module is available globally and already in production at select utilities.

Energy settlements – the process of capturing and reconciling energy generation and consumption, both at the wholesale and retail levels – play a crucial role in the energy market where energy is traded. As this market evolves, it is essential to quantify energy generation and consumption within specific intervals and reconcile disparities between the energy generated and the energy consumed. Various entities, including power plants, hydropower companies, nuclear facilities, commercial wind and solar operations, generate energy while utilities, businesses and municipalities consume it. Itron’s IEE Settlements collects measurements from generators, consumers and forecasted load all in a single module to help streamline reporting for utilities.

As part of the IEE suite, the newly launched module seamlessly integrates with a utility’s meter data management system to gather and process interval data, ensuring precise and timely data compilation as well as capture and submission to market operators. The integration of energy consumption and generation data from DERs facilitates compliance with regulatory requirements to include all energy players in the Settlement process and aligns with the goals of the Federal Energy Regulatory Commission Order No. 2222, which promotes DER involvement in regional electricity markets in the U.S. through aggregation.

IEE Settlements joins the powerful IEE MDM platform as a leader for granular settlements across three continents, meeting the most advanced deregulated market settlement needs for consumers at scale. Itron’s IEE Settlements offers a suite of key features benefiting utilities, including:

1. Real-Time Data Integration – The module seamlessly integrates with a wide range of data sources, allowing utilities to access and analyze real-time energy market data.
2. Automated/Auditable Settlement Calculations: IEE Settlements automates the entire settlement process, ensuring accuracy, traceability and reducing errors.
3. Customized Reporting: Ability to generate custom reports and analytics to help gain a better understanding into the utility’s market activities, helping them make informed decisions.
4. Scalability: From small enterprises to large organizations, IEE Settlements helps to scale the needs of the utility and accommodate settlements of any size.
5. Regulatory Compliance: Utilities can stay compliant with the evolving energy market regulations and standards with IEE Settlements’ built-in regulatory features.
6. Enhanced Security: The module incorporates robust security measures to protect sensitive information.

“The newly launched IEE Settlements module addresses crucial challenges facing aging infrastructure and the utility settlement market. The innovative design of the module helps to address the complexities of distributed energy resources with a solution for utility companies, renewable energy providers, independent power producers and large-scale energy consumers,” said Don Reeves, senior vice president of Outcomes at Itron. “With IEE Settlements, industry leading utilities can prepare for the future of energy with advanced automation and adaptability to help them meet their needs in the dynamic energy market.”

To learn more about IEE Settlements, visit the IEE Customer Resources page.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Additional Resources

• LinkedIn: https://www.linkedin.com/company/itroninc/
• Twitter: https://twitter.com/ItronInc
• Newsroom: www.itron.com/company/newsroom
• Blog: https://blogs.itron.com

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025996589/en/

Itron, Inc.

Alison Mallahan

Senior Manager, Corporate Communications

509-891-3802

PR@Itron.com

David Means

Director, Investor Relations

737-242-8448

Investors@itron.com

Source: Itron, Inc.

FAQ

What is Itron Enterprise Edition (IEE) Settlements?

IEE Settlements is an advanced settlements solution for utilities globally, providing visibility into the entire energy market and addressing complexities from distributed energy resources.

What features does IEE Settlements offer?

IEE Settlements offers real-time data integration, automated settlement calculations, customized reporting, scalability, regulatory compliance, and enhanced security.

Who can benefit from IEE Settlements?

Utility companies, renewable energy providers, independent power producers, and large-scale energy consumers can benefit from IEE Settlements.

What are the advantages of IEE Settlements?

The advantages of IEE Settlements include advanced automation, adaptability, and the ability to prepare for the future of energy in the dynamic energy market.