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Itron Renews Contract with British Gas

Zacks Equity Research

Itron, Inc. (ITRI) has signed a five-year contract with British Gas for comprehensive managed services. As per the contract, Itron will share its expertise to serve more than 1.25 million customers of British Gas in the UK to support electricity prepayment services.

According to the new deal, Itron will provide a B2B customer support call center, prepayment vending transaction management, meter data management, data reporting, technical support and consulting services. It will also increase the level of efficiency, quality of service and customer satisfaction facilitating modern and smart metering standards.

Itron’s Managed Services offers electricity prepayment solution which includes collection and processing of prepayment meter data as well as issuing prepayment keys, providing tariff updates and solution support to consumers. Moreover, Itron’s in-home vending service enables customers to purchase and add credit to their meter from their home rather than visiting a retail outlet.

British Gas has already entrusted Itron with its Managed Services. The renewed contract will assist British Gas to continue delivering market-leading solutions to its existing and new customers and help it to remain focused on its core business operations.

Itron, which belongs to the electrical equipment industry along with Ametek Inc. (AME), Teradyne Inc. (TER) and Agilent Technologies Inc. (A), recently entered into a strategic alliance with a Brazilian technology company, Choice. Both the companies will integrate and jointly market a non-technical loss (NTL) solution to utilities around the world.

Liberty Lake, Wash.-based Itron Inc., along with its subsidiaries, is one of the principal technology providers to the energy and water industries worldwide. It produces electricity, gas, water, and heat meters, data collection and utility software solutions along with various other associated metering products for residential, commercial and industrial, and transmission and distribution customers.

Itron currently retains a short-term Zacks Rank #5 (Strong Sell).


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