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Silver Spring Networks Announces Contract Extension with FPL

Five Year Extension for Delivery of Managed Services Builds on Current Deployment

August 18, 2010, Redwood City, CA - Silver Spring Networks, a leading Smart Grid solutions provider, announced today a multi-year extension of its agreement to provide managed services to Florida Power & Light Company (FPL), the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. Under the terms of the agreement, Silver Spring Networks will continue to manage FPL’s AMI Smart Grid platform using UtilityIQ (UIQ). UIQ is the mission-critical software application offered by Silver Spring that delivers a high degree of visibility and control over a utility's AMI Smart Grid deployment, including remote monitoring and configuration.

"We are delighted to extend our relationship with Silver Spring," said Bryan Olnick, Vice President Customer Service, Smart Grid Solutions, FPL. "Over the past three years, Silver Spring has been an effective and valued strategic partner in our AMI Smart Grid implementation."

Silver Spring's managed-services offerings support a utility’s critical IT and operations by providing round-the-clock performance monitoring, system optimization and upgrades. Silver Spring reduces risk to the utility by including a fixed scope of services for a fixed price with performance guarantees.

"We are proud that Florida Power & Light Company has extended its trust in Silver Spring to continue to provide this vital service," said Scott Lang, Chairman, President and CEO of Silver Spring Networks. "Our commitment is to provide our clients not only with best-in-class hardware and software, but also the services that are essential to build and operate the Smart Grid. We look forward to our continued work with one of the most respected utilities in the country."

About Silver Spring Networks

Silver Spring Networks is a leading smart grid networking platform technology and solutions provider. We have connected over 10 million homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Our innovative products enable utilities to gain efficiencies,integrate renewable energy sources and empower customers to monitor and manage energy consumption. Silver Spring Networks’ utility clients include Baltimore Gas & Electric, CitiPower & Powercor, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric and Pepco Holdings, Inc. among others.  For more information please visit www.silverspringnet.com.

Media Contact:
Lisa Magnuson
415-531-9199
pr@silverspringnet.com