Some B.C. residents will soon be getting notices from BC Hydro that a smart hydro meter will be installed on their home.
The Crown Corporation announced Tuesday it selected Vancouver-based Corix Utilities to install the 1.8 million smart electricity meters beginning this summer. Hydro expects the installations to be complete by the end of 2012.
The contract is worth $73 million for Corix, which used to be part of Terasen Inc. before it was sold to CAI Capital Management and BC Investment Management Corp. in 2007.
It’s the latest smart meter program awarded to Corix which has completed more than 360,000 meter upgrades in Alberta and more than two million in California.
Hydro claims once the program is complete it will provide $520 million in savings over 20 years, and a new means of improving operational efficiency, energy savings and revenue protection through better tracking of energy use.