February 4, 2010

Verizon and CURRENT Group Announce Joint Smart Grid Offering

Electric utilities can more quickly adopt smart grid capabilities by combining intelligent distributed sensing from CURRENT Group with an Internet Protocol-based solution from Verizon. Under a new agreement, the two companies are enabling real-time power consumption and analysis communications between electric companies and sensors deployed on their networks.

The two companies will leverage their core capabilities to deliver a joint smart grid solution. Verizon will provide the underlying wireless and IP network services, managed network and security services, and advanced IT security consulting services to help electric companies identify and mitigate risks to critical cyber assets, including data, applications, IT systems and networks.

CURRENT will provide its intelligent sensors, which monitor distribution grid performance; its OpenGrid™ utility element management system; and its System Optimization and Reliability analytical software solutions.

“This package of essential ingredients will help jump-start power industry efforts to employ smart grid technologies in their day-to-day business operations,” said Rilck Noel, managing director for Verizon’s global energy and utility practice. “The solution will help electric utilities speed integration of renewable energy sources, improve overall grid operations, and realize a secure, IP-enabled smart grid. We will continue to partner with industry leaders to develop end-to-end solutions for our customers.”

“Today’s utilities face unprecedented challenges to improve performance and efficiency at a time when infrastructure costs are skyrocketing, energy consumption is down and policy uncertainty abounds,” said CURRENT CEO Tom Casey. “Integrated distribution smart grid technologies like that of CURRENT and Verizon provide utilities with low investment solutions that are easy to deploy and deliver fast, measurable results.”

The relationship leverages the extensive experience of both companies to deliver key building blocks for an IP-enabled smart grid. Specifically, the ability for electric utilities to process information securely, reliably and more quickly will be central to making production, distribution and consumption more efficient. The new offering is immediately available and designed for simple and speedy implementation. Electric companies can adopt the solution on a substation-by-substation, application-by-application or enterprise-wide basis.

back