AEP Texas, a division of American Electric Power, just announced that it has signed a contract with Landis+Gyr to have smart meters installed for its customers. Under the terms of the 5 year contract, Landis+Gyr will deliver and install 700,000 smart meters for AEP. According to Reuters, the deal is valued at $75 to $100 million.

From a Landis+Gyr press release, here is more information about the deal along with a quote from Landis+Gyr North America’s CEO:

This advanced metering infrastructure deployment includes a two-way network and features an advanced digital meter with load limiting and remote service capability, along with connectivity to home area network devices. This will allow AEP Texas to send energy consumption information and real-time pricing signals to consumers as well as provide automated load management options.

"As the demand for electricity continues to outpace development of energy resources, using smart grid technologies to improve energy management is a critical piece to ensuring our energy future. AEP Texas is adopting technology that will improve efficiency and help control rising costs, while making it easier to utilize alternative sources of energy," said Richard Mora, CEO of Landis+Gyr North America. "Landis+Gyr is proud to partner with AEP. Gridstream provides a flexible, scalable and secure solution designed to meet their demanding requirements for interconnectivity and information management."

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