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Rocio Castro. Communication Department.
August 28, 2009
August 28, 2009 - Telvent (NASDAQ: TLVT), the IT company for a sustainable and secure world, announced today that the Company will be in charge of project design, development and start-up of the Smart Meter Management system (SMM), a component of Telvent's comprehensive Smart Grid Solution, for the Finnish utility Fortum. The project, which is valued at over EUR 120 million, will provide Fortum with real-time intelligence that will revolutionize both the customer relations and operations of its power grid.
Telvent will deliver a technologically advanced system, using Telvent Smart Metering Titanium integrated with Echelon's Networked Energy Services (NES), that will provide the utility's residential and small business customer's continuous access to their power consumption information and therefore the ability to directly and responsibly manage their individual energy use. The system will also allow Fortum to administer and operate its power grid more efficiently, securely and cost-effectively by managing peak demand particularly during incident and outage periods. The system is expected to significantly enhance overall operations and future customer service levels for the utility going forward.
Altogether 550,000 Fortum's residential and small business customers in Finland will have electric meters in their homes that allow collection of usage information. Telvent will be responsible to manage electrical consumption metering data as well as ongoing system maintenance. Once the system is fully rolled out after three years, Telvent will operate and maintain the system for a period of six years.
"It is most satisfying that, following an exhaustive, highly competitive selection process, a company like Fortum has chosen our technology and information services for a project of this importance and magnitude, perhaps the largest in Europe. This is a major step in the evolution of a 21st-century intelligent power grid for Fortum," emphasized Manuel Sanchez, Telvent's Chairman and CEO. He later added, "Fortum will have the capability to compile, analyze, process and discriminate, in real time, the entire set of new information that will be available to the company. It will be able to make decisions within an enhanced security environment that will improve efficiency in grid operations, allow integration of power supply from new renewable energy sources, all without compromising grid stability."
Making the most of the available capacity of electrical power grids, management of grid maintenance programs, analyzing or even anticipating potential service outages and ensuring energy demand response are some of the objectives utilities seek and will find in implementation of Telvent's Smart Grid Solution technologies. Having detailed information on energy use will promote new and more responsible habits by end consumers of power and will ultimately lead to a reduction in consumption, cost and the emissions associated with power generation.
"Along with the new smart meters invoicing will be based on real electricity consumption," says Timo Karttinen, Fortum's Senior Vice President for Corporate Development. "And better knowledge about use of energy improves energy efficiency. It is as well easier to operate and manage network capacity when actual customer electricity consumption is known. The smart meters can be used for faster power failure resolution, too."
Telvent continues expanding into the Nordic market, where it has been operating since 2001, increasing the company's geographical presence through offices in Stockholm, Copenhagen, Gothenburg and now Helsinki.
About Telvent
Telvent (NASDAQ: TLVT) is a global IT solutions and business information services provider that improves the efficiency, safety and security of the world's premier organizations. The company serves markets critical to the sustainability of the planet, including the energy, transportation, agriculture, and environmental sectors. (www.telvent.com)
About Fortum
Fortum is a leading energy company focusing on the Nordic countries, Russia and the Baltic Rim area. Our activities cover the generation, distribution and sale of electricity and heat and the operation and maintenance of power plants. Our vision is to be the benchmark power and heat company excelling in sustainability.
In 2008, Fortum's sales totalled EUR 5.6 billion and operating profit was EUR 2.0 billion. The company employs approximately 15,500 people. Fortum's shares are quoted on NASDAQ OMX Helsinki. Further information: www.fortum.com
About Echelon Corporation
Echelon Corporation (NASDAQ: ELON) is leading the worldwide transformation of the electricity grid into a smart, communicating energy network, connecting utilities to their customers, and providing customers with energy aware homes and businesses that react to conditions on the grid. www.echelon.com
Investor Relations Contact
Barbara Zubiria
Tel. +34 902 335599
Email: ir@telvent.com
Lucia Domville
Tel. +1 646 284 9416
Email: ldomville@hfgcg.com
Communication Contact
Patricia Malo de Molina
Tel. +34 954 93 71 11
Email: comunicacion@telvent.com
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