Will allow Pomco to eliminate all meter reader positions. This is HUGE. Should contribute 10 cents to earnings next year. Do you have any idea what those guys were paid. And the vehicle and insurance costs. And housing them. This is bigger than HUGE. It's collossal.
If it is so hugh why is POM going to all the commissions asking for rate hikes to pay for all these smart meters. Now I don't understand why they are called smart meters as they don't do much for the customer side. Gee you can look everyday to see what your bill is.
The meters better bring in lots of money as POM's dividend payout rate is too high to keep up the payments in the long run.
First of all, they are UNION jobs - so they have to find a place for them. If they have a RIF ( Reduction In Force ) they will have to pay some huge termination fee. Also, the meters are not smart enough to maintain themselves, so now you need a whole infrastructure and skill set to fix them. I see it as a break even - the whole thing with smart emeters is to allow some societal benefit pricing - tax the rich who run air conditioners in the summer more and have the poor urban guy sweating buckets less. Makes sense for a DC company, right?
They will take a one time charge for eliminating these jobs. And when was the last time your meter broke? I've had the same meter for 26 years. And yes, the meters will allow Pomco to charge for real time use, a huge moneymaker.