Fortum investing in smart meter system in Norway, will begin installing new meters in 2013, have 100,000 households, small businesses connected by 2015; Norwegian legislation requires hourly meter reading by end of 2016

ESPOO, Finland , July 18, 2011 (press release) – Fortum is investing in a smart metering system based on two-way communication in Norway. The installation of the new meters will begin in 2013 and altogether 100,000 households as well as small business customers in Fortum's network area will be connected to the system by 2015.

Fortum has chosen Telvent to deliver, install and operate the system. The service agreement includes Echelon's metering equipment, Telvent's system as well as maintenance and collection of meter readings. Fortum and Telvent's contract also includes several options for future development and upgrading. Telvent has since 2009 been Fortum's partner in the currently ongoing Finnish smart metering rollout.

“With the new smart meters, invoicing will be based on real electricity consumption. Customers receive more accurate information on their electricity consumption and therefore have better possibilities for saving energy. In addition, the smart meters will be used for more efficient power failure resolution and as a platform for future development of smart grids and services within electricity solutions”, says Ari Koponen, Vice President, Distribution at Fortum.

Norwegian legislation requires hourly meter reading by the end of 2016. The smart metering system provided to Fortum's customers will include a variety of features such as consumption reporting via the internet and a connection to future smart home systems via an interface in the meter.

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