Iskraemeco signs the contract with Vattenfall, the Swedish energy company

Kranj, 16. 7. 2004: Today, Iskraemeco signed a contract for delivery of the complete system for remote meter reading. The system will cover 150,000 household consumers of electric energy. It involves delivery of the equipment, its installation, start-up and servicing. The project value exceeds 30 million euros, and is thus an impressive example of exporting Slovene high-tech to one of the most developed markets. The project that Iskraemeco obtained in competition with all leading bidders of such equipment is an important milestone while implementing Iskraemeco’s transition to offer the whole system solutions.

Iskraemeco has for long been investing in the development of the systems for remote meter reading. Besides already operating systems for industrial consumers, a new generation of the system for automatic meter reading for household consumers has been developed recently. Sweden is the leading country in the world at introducing such systems. By force of law, Swedish electric utilities will have had to introduce automatic meter reading for billing electric energy consumption by 2009. A few million measuring places will be equipped, and Vattenfal alone will replace almost one million meters at its consumers, and will connect them in a uniform central billing system. A tender invitation for reading system attracted all the leading world offerers of the equipment for energy billing. At the beginning of this year, Iskraemeco sold its first major system to Sydcraft, the Swedish energy company, and in this way obtained important reference for building new, even larger systems, which was an important element for selecting the supplier. While executing the project for Vattenfal energy company, Iskraemeco will cooperate with Data and Bravida, the Swedish companies. The total value of the project amounts to 30 million euros. It should be completed in the following two years.

“We are continuing our efforts to give Vattenfall’s customers exact bills. In this stage too, we have chosen, on a fiercely competitive market, a supplier that will meet our high demands and expectations,” says G?ran Lundgren, Managing Director of Vattenfall Eldistribution.

When signing the contract, Slavko Vidic, Chairman of the Board of Directors, stressed that "delivery of the system to Vattenfall is an important milestone in the Iskraemeco's development as we are placed in the first line of offerers of new technology for billing electric energy". To acquire a bigger market share for the billing systems is of a strategic importance for Iskraemeco since it wishes to remain among the leading companies in the field of electric energy measurement and billing.