Successfully Completes System Testing Installing Thousands of Meters
PORTLAND, Ore., Apr 15, 2009 (BUSINESS WIRE) -- Portland General Electric Company (PGE) (NYSE:POR) will begin rolling
out more than 800,000 "smart meters" across its 4,000-square-mile
service area this week after successfully completing its smart metering
systems testing program.
The next-generation electrical meters, which will be read remotely by
PGE, will help the utility and its customers manage energy use, as well
as enhance customer service and reduce operating expenses.
PGE began installing smart meters last year in selected test
neighborhoods -- urban and rural --before rolling them out territory-wide.
The rest of the smart meters will be installed in an 18-month process
slated for completion by late 2010.
"Systems testing went well and we are moving forward to complete the
installation of smart meters for all of our customers," said Jim Piro,
president and CEO of PGE. "Smart meters will allow us to offer our
customers better service and reduce our operating costs. Smart meters
are also the foundation for future 'smart grid' and 'smart home'
technology necessary to meet our customers' future energy needs."
The new meters, which communicate over a wireless network much like a
cell phone system, will provide PGE with two-way communications to its
residential and commercial meters, enabling many customer benefits:
- Cost savings: PGEanticipates millions in operational
cost savings per year once the system is fully up and running, saving
customers at least $34 million (net present value) over the next 20
- Environmental benefits: Fewer meter-reading vehicles will
eliminate 1.2 million miles of driving, save 80,000 gallons of
gasoline and reduce CO2 emissions by 1.5 million pounds
- Helps customers save energy: Within the next year, customers
with smart meters will be able to access detailed information online
or via customer service about their power consumption, allowing them
to see how their activities affect power usage and develop strategies
to use energy wisely. Customers will also have the ability to pick a
preferred bill due date.
- Speeds power restoration: In the future, PGE will be able to
respond to power outages faster through information received via the
smart metering system. The new meters will be able to tell PGE if a
customer is experiencing a power outage, helping PGE dispatch repair
crews more efficiently and restore service faster.
- Future demand response programs: The new system is also
expected to support the future development of such programs as demand
response -- a pricing structure program that encourages customers to
use energy at less expensive times of the day, when the peak demand is
lower; and direct load control programs -- a program in which customers
would agree to permit the utility to turn off certain appliances for
limited periods when demand is high. These types of programs will
reduce the need for new generation resources to meet peak demand.
The capital cost of the project is expected to be $130-135 million. The
smart metering system, also known as advanced metering infrastructure
(AMI), was purchased from Sensus Metering. Residential and smaller
business customer meters will be installed by Wellington Energy, PGE's
contract meter installer. PGE's meter services will install meters for
PGE's mid-sized to large commercial customers.
For more information about the smart meter program, including an
installation schedule, visit www.PortlandGeneral.com/SmartMeter.
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a
vertically integrated electric utility that serves approximately 810,000
residential, commercial and industrial customers in Oregon. Visit our
Web site at www.PortlandGeneral.com.
Safe Harbor Statement
Statements in this news release that relate to future plans, objectives,
expectations, performance, events and the like may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements include statements
concerning the future installation, deployment and operation of the
smart metering system, the expected performance and benefits of the
system, the expected capital cost of the system, as well as other
statements identified by words including, but not limited to, "will,"
"anticipates," "believes," "intends," "estimates," "promises,"
"expects," "should," "conditioned upon" and similar expressions.
Investors are cautioned that any such forward-looking statements are
subject to risks and uncertainties, including regulatory, operational
and legal matters, as well as other factors that could affect the
deployment and successful operation of AMI. As a result, actual results
may differ materially from those projected in the forward-looking
statements. All forward-looking statements included in this news release
are based on information available to the Company on the date hereof and
such statements speak only as of the date hereof. The Company assumes no
obligation to update any such forward-looking statements. Prospective
investors should also review the risks and uncertainties listed in the
Company's most recent Annual Report on Form 10-K and the Company's
reports on Forms 8-K and 10-Q filed with the United States Securities
and Exchange Commission, including Management's Discussion and Analysis
of Financial Condition and Results of Operation and the risks described
therein from time to time.
Source: Portland General Electric Company
SOURCE: Portland General Electric Company
Brianne Hyder, 503-464-8442
Copyright Business Wire 2009