) has been selected by the National Company of Measurement and
Control Instruments ("ENAMC") to install C&I advanced data
collection system in Algeria over the next 18 months. This
initiative was taken to support the modernization of the
electricity network and assist the clients (industrial and
commercial) to manage their electricity consumption more
efficiently in Algeria.
Per the deal, ENAMC will be producing the meters while Itron
will be supplying the modems. In addition, each center will be
furnished with Itron's data collection system and the IT servers
required for operating the system.
ENAMC is a subsidiary of Sonelgaz (National Society for
Electricity and Gas), a state owned utility in charge of
electricity and gas distribution in Algeria. ENAMC will utilize
smart metering technology of Itron at 58 distribution centers
The partnership will help Itron foster growth by increasing the
demand for its products in the emerging market. Further, the
initiative is expected to be welcomed by the electricity users of
Algeria as it will help them particularly to conserve the
non-renewable source of energy.
Earlier, Itron was selected by the Burlington Electric
Department ("BED"), based in Burlington, Vermont, to provide smart
grid solution to manage its electric grid more adeptly. The project
of BED included 20,000 smart meters, network communications
infrastructure and professional services provided by Itron.
With the installation of its four-millionth smart meter by South
California Edison ("SCE") Itron reached a new milestone in the
field of smart meter technology. The smart meters and smart
metering systems support many programs and services that help
consumers to manage their electricity consumption along with saving
energy and money on utility bills.
However, Itron faces tough competition from a large number of
companies offering similar products, systems, and services. Some of
its well-known competitors include
General Electric Company
Cooper Industries Ltd.
Badger Meter Inc.
Moreover, competition in the Advanced Metering Infrastructure
(AMI) market, especially in North America, is ever increasing.
Intense competition may lead to price reduction. Itron must win new
contracts to gain market share in the AMI market.
Currently, we have a long-term Neutral recommendation on the
stock, which is in line with a shirt-term Zacks #3 Rank (Hold).
BADGER METER (BMI): Free Stock Analysis Report
COOPER INDS PLC (CBE): Free Stock Analysis
GENL ELECTRIC (GE): Free Stock Analysis Report
ITRON INC (ITRI): Free Stock Analysis Report
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