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ESCO Announces Electric AMI Selection at Idaho Power
Jul 14, 2008 (08:07 AM EDT)
ST. LOUIS, July 14 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today announced that ESCO's Aclara Power-Line Systems Inc. TWACS(R) advanced metering infrastructure (AMI) solution has been selected by Idaho Power (IPC) for its entire electric service territory.
The total value of purchase orders anticipated to be issued under this contract are approximately $25 million and the system is expected to be deployed over a three year period beginning in early 2009.
IPC is involved in the generation, purchase, transmission, distribution and sale of electric energy in a 24,000 square mile area in southern Idaho and eastern Oregon serving approximately 500,000 metered endpoints.
IPC initially deployed the TWACS power-line solution several years ago with a 25,000 unit deployment intended to substantiate the business case for AMI and to test customer response to time-of-use billing and demand response / load control programs. The successful performance of this technology over the past few years was a significant factor in IPC's decision to expand to a system-wide TWACS deployment.
IPC plans to purchase the most advanced TWACS meter modules to collect interval data for current billing needs and to support planned time-of-use billing and demand response programs that are designed to allow the utility and its customers to better manage energy consumption and related energy costs.
Bruce Kessler, President of Aclara Power-Line Systems Inc., commented, "We are pleased that Idaho Power has decided to expand its existing TWACS installation to meet its AMI needs within its vast service territory. We believe Aclara's versatile, proven at scale, power-line solution is the most cost-effective AMI system for utilities such as IPC, which have both rural and urban service areas, to collect meter data and to provide advanced demand response and time-of-use programs to meet customers' energy needs today and well into the future."
Statements in this press release regarding the value and timing of anticipated purchase orders issued by IPC, the location and timing of IPC deployments and any other written or oral statements which are not strictly historical are "forward-looking" statements within the meaning of the safe harbor provisions of the federal securities laws. Investors are cautioned that such statements are only predictions and speak only as of the date of this release, and the Company undertakes no duty to update. The Company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the Company's operations and business environment including, but not limited to: the risk factors described in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2007, and in Part II, Item 1A of the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2008; approval by the Idaho and Oregon Public Utilities Commissions of recovery of IPC's AMI costs through customer rates; the timing and content of purchase order releases under the IPC contract; the Company's successful performance of the IPC contract; weakening of economic conditions in served markets; changes in customer demands or customer insolvencies; competition; intellectual property rights; technical difficulties; delivery delays or defaults by customers; termination for convenience of customer contracts; performance issues with key customers, suppliers and subcontractors; and changes in laws and regulations.
The Aclara brand represents the industry's leading fixed-network AMI/AMR technologies and MDM software serving water, gas, and electric utilities worldwide. While Aclara is the singular brand and identity, the Company retains the known technology brands of DCSI (TWACS(R)), Hexagram, Inc. (STAR(R) Network), and Nexus Energy Software (Energy Vision and ENERGYprism). These three companies operate as Aclara Power-Line Systems Inc., Aclara RF Systems Inc., and Aclara Software Inc., respectively. Further information regarding Aclara is available on the Company's web site at http://www.AclaraTech.com .
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas, and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's web site at http://www.escotechnologies.com .
CONTACT: Patricia K. Moore, Director, Investor Relations of ESCOTechnologies Inc., +1-314-213-7277; or media inquiries, Dave Garino,+1-314-982-0551, for ESCO Technologies Inc.
Web site: http://www.escotechnologies.com/ http://www.AclaraTech.com/