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 solution provider that enables utilities to achieve operational efficiencies, reduce carbon emissions and empower their consumers with new ways to monitor and manage their energy consumption. Silver Spring provides the hardware, software and services that allow utilities to deploy and run multiple advanced solutions, including Smart Metering, Demand Response, Distribution Automation and Distributed Generation, over a single, unified network. Silver Spring’s Smart Energy Platform is based on open, Internet Protocol (IP) standards, allowing continuous, two-way communication between the utility and device on the grid. Silver Spring has numerous deployments with leading utilities in the US and abroad, including Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, Inc., Jemena Electricity Networks Limited and United Energy Distribution, among others. For additional information, please visit www.silverspringnet.com.