Puget Sound Energy's high-tech meters d�but in
Networked system to give Seattle consumers
'real-time' information about energy use
Wash., Jan. 27, 2000) - High tech "talking meters" are
making their way into Seattle today as part of Puget
Sound Energy's ongoing expansion of a network meter
reading system that gives consumers faster and more
accurate information about their energy use.
Sound Energy employees today (Thurs., Jan. 27) began to
retrofit the first of 150,000 natural gas meters on
Seattle homes and businesses with a device that "talks"
to the utility every 15 minutes by relaying meter
data over a high-tech wireless network system
developed by CellNet Data Systems, Inc. of San Carlos,
Once the Seattle natural gas meters are automated,
Puget Sound Energy customers will have access to nearly
up-to-the-minute information about their energy consumption and
energy costs. Eventually, the automated system will
allow consumers to access their daily billing and
consumption information over the Internet.
than 620,000 natural gas and electric meters in the
region are operating on Puget Sound Energy's extensive
high-tech network meter reading system. In Kent, where
homes and businesses have both their electric and
natural gas meters operating automatically, 200
homeowners are about to test for the first time anywhere a
new technology that lets them monitor and adjust
their heating system while they're away. The new
technology uses the network meter reading system to relay
two-way information between the thermostat and the
"These networked technologies expand Puget's
ability to deliver information access and convenience,"
said Brian Pollom, Puget Sound Energy's manager of
meter reading services. "There's also considerable
potential for the capabilities of the network system to be
extended to additional services."
Sound Energy - 2
Pollom expects the conversion
of all natural gas meters in the metropolitan
Seattle area to be completed by February 2001.
Sound Energy first deployed network meter reading in a
1997 pilot in Thurston County. Since April 1998, it
has extended the vast network of talking meters in
Thurston, Pierce and King counties. By the end of 2001,
network meter reading services will operate on more than
1.3 million natural gas and electric meters - 95
percent of all Puget Sound Energy customers - in a
i've followed the industry since the early 90's.
my only position in itron was getting short in the
low 50's back in early 96 when that midwestern value
gal in barron's roundtable hyped it into the ozone
and covered later that year below 20. i've been a
watcher since then. yes the mgmt changes were way past
due and hopefully will lead to performance not pr
promises in the future. the company still has cvt debt
outstanding as well as the new bank line to draw on. call me
old fashioned but paying huge multiples of cashflow
and earnings for a company that's done nothing but
disappoint investors for years doesn't get me excited. if
the price comes in 70% and/or the new mgmt can take
on slb and the like and show great results i'll be
happy to revise my thinking, until then best of luck.
ps i've got a lousy memory for names but i think the
gal's name was charlene something. she hasn't been on
the roundtable for the last 2 or 3 years.
No, can't blame anyone for being skeptical,
especially with what CNDS and their Yahoo board have done to
I'm confused though, and wonder if your no-position
in ITRI means you haven't been watching. Humphries
out and Chesser in was a good move. Recent management
changes are good moves. Reorganization of manufacturing
cuts expenses. The 11/15/99 10-Q says no debt (see
below), and they just got a new long-term line of credit.
Seems they are turning around, and preparing for future
investments. No one wants a buyout, and I don't think ITRI was
ever close to CH11. If you don't hold ITRI, why hold a
sell position? Based on what?
Financing activities used $8.5 million and $13.4 million in
the three and nine months ended September 30, 1999
compared to generating $1.4 million and $16.1 million
during the same periods in 1998. Financing activities in
1999 substantially consisted of paying down our bank
line of credit. At September 30, 1999 we did not have
any amounts outstanding under our bank line of
credit. During 1998 we generated cash from financing
activities by borrowing against the bank line of credit and
obtaining project financing for an outsourcing contract.
In their last conference call, they made mention
of addition restructuring for 4Q. They also felt
additional charges may be added to 1Q 2000.
thing that that is different is the delay in reporting.
I feel they want to make sure all charges are
reported correctly within IRS guidelines. It is much
better to do this now, then make a correction later that
jolt investers and analyst's. A company that
re-reports earnings, can be very negative.
This is my
opinion....Are there others that agree or disagree?
right now it seems as if dssi with its comverge
division is the only amr company that actually still has
their own cash. They are just getting started and maybe
their timing as far as deregulation will be better.
i'm sure itri is looking ahead but the
competitive landscape is looking rougher for a small company
with limited resources. cnds and itri both have
demonstrated viable networks and the market is big enough for
both plus more. however itron has promised much in the
past and delivered less hence the mgmt change. they
haven't levered their balance sheet to the crazy level of
the old cnds but they are carrying a load of debt.
time stands still for no company. either they turn
things around, spruce up the company so they can partner
with or sell out to a bigger partner or they languish
and sell themselves out of chapter 11 a la cnds. with
the history of this industry and of itron, can you
blame one for being skeptical?
Just saw you post to me over on the CNDS
I don't know what to think about the "rumored"
buyout of CNDS by SLB. I guess we'll find out about the
CNDS halt soon enough. I would just like to see CNDS
disappear but that ain't going to happen as their installed
networks ect. will be serviced by someone, apparently
I have no info as to the delayed reporting at ITRI
or the halt of CNDS. skep