LUMA announces contract to launch next phase of their Smart Meter Initiative

Core Insights - LUMA has completed the procurement process to deploy approximately 1.5 million smart meters across Puerto Rico as part of its Smart Meter Initiative, with no associated rate increases for customers [1][2] - Itron has been selected as the vendor to provide advanced smart grid technology, enhancing the reliability, efficiency, and resilience of Puerto Rico's electric grid [2][3] Company and Industry Overview - LUMA operates and manages Puerto Rico's electric power transmission and distribution system, focusing on transforming the grid to provide reliable, resilient, clean, and affordable service to its 1.5 million customers [8] - Itron is a global leader in smart meter technology and intelligent infrastructure services, committed to improving resource efficiency and quality of life through innovative systems [9] Project Details - The smart meter installation will create over 150 direct and indirect jobs in Puerto Rico, with a focus on local hiring for field crews and subcontractors [2][6] - The project will utilize Itron's smart grid platform, which includes a new communications network and distributed intelligence capabilities, marking a significant advancement in Puerto Rico's grid modernization efforts [3][4] Benefits of the Initiative - The smart meters will provide customers with better control over energy consumption, improved outage detection, and enhanced integration of renewable energy sources [4][5] - The initiative aims to improve situational awareness for grid monitoring and response during both normal and extreme weather conditions [5][6] Vendor Commitment and Technology - Itron's technology suite includes a meter software system for monitoring energy usage and detecting outages, along with a 15-year warranty and seamless integration with existing infrastructure [7]