Ann P. Borne
Sensus Metering Systems
(985) 773-1233
ann.borne@sensus.com
Wednesday, February 21, 2007
HECO Expands Sensus AMI Deployment
Pittsburgh, PA -- Hawaiian Electric Company (HECO) and Sensus Metering Systems announced an agreement to expand the pilot deployment of the Sensus FlexNet advanced metering (AMI) solution for residential and commercial customers on the island of Oahu.
"The rapid success and reliability of the initial technical trial with Sensus confirmed our selection of the technology and the company," said Karl Stahlkopf, HECO Senior Vice President Energy Solutions & Chief Technology Officer. "We are excited about the financial benefits and operational efficiencies that the “smart" metering system will provide to our customers, and we are taking the next logical expansion of the FlexNet system and the Sensus relationship."
Under the expansion plan, HECO will grow the pilot deployment from approximately 500 to approximately 3000 installed meters in the Ocean Pointe Subdivision on Oahu in the first calendar quarter of 2007.
About Hawaiian Electric Company
Hawaiian Electric Company (HECO) and its subsidiaries, Hawaii Electric Light Company (HELCO) and Maui Electric Company (MECO), provide electricity for 95% of Hawaii's residents. Established in 1891, Hawaiian Electric remains one of the few locally owned and operated major companies in the state. More information about the company is available on the Internet at: www.heco.com.
About Sensus Metering Systems
The Sensus Metering Systems companies are leading world-class providers of high-value metering, Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI) system solutions for water, gas, electric, and heat utilities as well as sub-metering entities worldwide. Additional linked businesses include Smith-Blair, Inc. a leading provider of pipe clamp & coupling products for the water, gas, and industrial markets; and Sensus Precision Die Casting that produces complex, high quality die-castings. For more information, please visit the company's web site at www.sensus.com
All statements in this release, other than historical facts, are made in reliance on the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are subject to change at any time. These statements reflect the Company's current expectations regarding its financial position, revenues, cash flow and other operating results, business strategy, financing plans, forecasted trends related to the markets in which the Company operates, legal proceedings and similar matters. The Company's expectations expressed or implied in these forward-looking statements may turn out to be incorrect. The Company's actual results could be materially different from its expectations because of various risks. These risks, some of which are discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K (SEC File No. 333-113658) for the fiscal year ended March 31, 2007 as filed with the Securities and Exchange Commission on May 16, 2007, include its dependence on new product development and intellectual property, and its dependence on independent distributors and third-party contract manufacturers, automotive vehicle production levels and schedules, its substantial financial leverage, debt service and other cash requirements, liquidity constraints and risks related to future growth and expansion. Other important risks that could cause actual events or results to differ from those contained or implied in the forward-looking statements include, without limitation, the Company's ability to integrate acquired companies, general economic and business conditions, competition, adverse changes in the regulatory or legislative environment in which the Company operates, and other factors beyond the Company's control.