Silver Spring Networks (SSNI) Selected by Entergy Services for Grid Modernization Program

October 6, 2016 8:41 AM EDT

Get the Pulse of the Market with's Pulse Picks. Get your Free Trial here.

Silver Spring Networks, Inc. (NYSE: SSNI) announced that it has been selected by Entergy Services, Inc., to support the comprehensive grid modernization program of the Entergy utility Operating Companies. Entergy will leverage Silver Spring’s multi-application IPv6-based Gen5 network platform across its 114,000 square mile territory to provide two-way meter communications and near-real time telemetry for approximately 2.8 million customers in Arkansas, Louisiana, Mississippi and Texas. The platform will enable the Entergy Operating Companies to offer their customers more insight into and better control over their energy usage and costs, while helping to more quickly identify and restore power after outages and improve overall grid reliability. Today’s announcement details the new, unnamed customer award described during Silver Spring Networks’ earnings conference call on August 4, 2016.

“We are excited to work with Entergy to deploy Silver Spring’s proven, secure and reliable platform across the South,” said Mike Bell, President and CEO, Silver Spring Networks. “A smart grid program will usher in a new era for Entergy’s utilities to continuously improve reliability and safety while meeting the evolving needs of their customers. It is an honor to be selected by such an industry leader.”

Pre-deployment planning and design are underway. Pending regulatory approval, Silver Spring anticipates that the Entergy Operating Companies’ deployments of the Silver Spring platform will begin by 2018, and will be completed across their service territories by the end of 2021. In addition to advanced electricity and gas metering, the Entergy Operating Companies have the option to evaluate additional applications to be connected through Silver Spring’s platform in the future.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Comments

Related Entities

Twitter, Earnings

Add Your Comment