Utility Selects Financing Solution for Automation Project

February 19, 2002

Meter-reading Efficiency, Revenue Enhanced by $11 Million Financing Project

Clark County Public Utility District has selected Koch Financial Corp. to provide more than $11 million in financing to reduce operating costs and increase efficiencies by automating its meter-reading and other data-collection operations.

Koch Financial is financing the purchase of 150,533 automatic meter reading (AMR) electric modules and associated software and data collection equipment from Clark Public Utilities' AMR provider, Itron Inc. The financing will also cover costs to install the equipment and train the district's workforce to use Itron's data-collection systems.

"We were pleased to be able to provide the financing to help CPUD meet its objective of improving efficiencies," said Jeffrey Ray, senior vice president of sales and marketing for Koch Financial. "Pairing our financing solutions with equipment and technology packages from vendor partners like Itron is one way that we can help public service providers grow and better serve their customers."

The Itron meter modules will convey consumption and tamper information from CPUD's electric meters via radio signals to Itron radio data collection systems installed at the utility's offices.

Source:

Businesswire

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