Itron Ships 4 Millionth Distributed Intelligence-Enabled Meter to Texas-New Mexico Power

Rhea-AI Summary

Itron, Inc. (NASDAQ: ITRI) announced the delivery of its 4 millionth Distributed Intelligence (DI)-enabled smart electric meter to Texas-New Mexico Power (TNMP), contributing to TNMP's Advanced Metering Infrastructure (AMI) goals. With over 4.2 million DI meters shipped globally, TNMP has completed over 75% of its deployment as of June 2022. This transition enhances operational efficiency, grid safety, and compliance with Texas regulations. Itron’s solutions facilitate advanced analytics at the grid edge, improving service reliability for more than 260,000 customers in Texas.

Positive

• Delivery of 4 millionth DI-enabled smart meter to TNMP enhances operational efficiency.
• Over 4.2 million DI-enabled meters shipped globally, demonstrating strong demand.
• TNMP's deployment is over 75% complete, indicating a successful rollout.
• DI-enabled meters increase grid safety and compliance with Texas regulations.

Negative

• None.

DI Meters Support TNMP’s Advanced Metering Infrastructure Goals

LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that Texas-New Mexico Power (TNMP) was the recipient of Itron’s 4 millionth Distributed Intelligence (DI)-enabled smart electric meter. To date, Itron has shipped 4.2 million of the DI-enabled meters to customers globally. An electricity transmission and distribution service provider to more than 260,000 customers throughout Texas, TNMP is deploying the meters as part of a new program to transition to Itron’s intelligently connected industrial IoT (IIoT) network solution, supporting the utility’s Advanced Metering Infrastructure (AMI) refresh goals. As of June 2022, TNMP has completed more than 75% of the planned deployment and is expected to be complete in early Q3 2022 across its 13,000-square mile territory. Meters are registering on the network within the same day and supporting market operations for reads and disconnect with >99% reliability daily.

Itron’s DI-enabled smart meters are an integral part of Itron’s multi-application, multi-transport IIoT solution, which moves grid analysis, decision-making and control to the grid’s edge, resulting in a significant reduction in latency of action, greatly improved situational awareness, more accurate analysis and advanced event detection. DI will help TNMP improve operational efficiencies by detecting unsafe grid conditions and energy diversion through analytics running at the edge of the low-voltage network. The solution will also enable TNMP to comply with the Advanced Metering System (AMS) requirements in the state of Texas. Itron’s solution offers options for adding IoT applications including smart streetlight monitoring, grid sensors as well as the potential to share network coverage to read neighboring utility water and gas AMI meters.

“The delivery of Itron’s 4 millionth DI-enabled smart meter to TNMP marks a significant milestone for Itron as we enable unprecedented insight into grid operations, improve customer engagement and increase grid safety with our industry-changing IIoT solution,” said John Marcolini, senior vice president of Networked Solutions at Itron. “The future of the modern grid is dependent on leveraging DI at the grid edge to help manage growth, stability and safety. We look forward to continuing our collaboration with TNMP to enable them to make decisions and take action at the grid’s edge.”

“We are excited to safely replace all 3G meters across our service territory in response to the 3G network shutdown,” said Stacy Whitehurst, vice president of Regulatory Affairs at TNMP. “Our collaboration with Itron gives us the tools to better manage the grid, prepare to meet future-state utility requirements and keep our customers safer and more connected. With Itron’s solution, we are positioned for the future in developing and introducing more intelligent services in response to dynamic grid changes at the edge, such as increased distributed energy resources.”

About TNMP

TNMP is a transmission and distribution service provider that delivers power to more than 260,000 homes and businesses on behalf of retail electric providers in Texas. More information is available at tnmp.com/about-us.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005425/en/

TNMP

Sara Yingling, Corporate Communications

Sara.Yingling@tnmp.com

Itron, Inc.

Alison Mallahan

Senior Manager, Corporate Communications

509-891-3802

PR@Itron.com

Source: Itron, Inc.

FAQ

What is Itron's latest achievement with Texas-New Mexico Power?

Itron has delivered its 4 millionth Distributed Intelligence (DI)-enabled smart electric meter to Texas-New Mexico Power (TNMP).

How many DI-enabled smart meters has Itron shipped globally?

Itron has shipped over 4.2 million Distributed Intelligence (DI)-enabled smart meters to customers worldwide.

What percentage of TNMP's meter deployment has been completed?

TNMP has completed more than 75% of its planned meter deployment as of June 2022.

How does Itron's smart meter solution benefit TNMP?

Itron's smart meters enhance operational efficiencies, improve safety, and help comply with Texas's Advanced Metering System requirements.

What is Texas-New Mexico Power's service area?

Texas-New Mexico Power (TNMP) serves over 260,000 customers across a 13,000-square-mile territory in Texas.