United Energy's Smart Meter Program Delivering Important Infrastructure Upgrade To Benefit Victorian

Media Release

12 July 2010

United Energy's Smart Meter Program Delivering Important Infrastructure Upgrade to Benefit Victorians

In response to media coverage today, electricity distributor United Energy has confirmed that its component of the Victorian Government's mandated smart meter rollout is progressing on schedule and the company is confident the overall program will be delivered within budget.

United Energy's CEO, Hugh Gleeson, said: "The financial impact of the March 2010 moratorium on time of use tariffs, which we estimated at the time to be about $3 million, represents less than one per cent of the total program cost. Cost movements like this are to be expected in a project of this size and we hope to find cost offsets during the rest of the project's implementation which will negate this impact.

"We do not see $3 million as an inconsequential sum, however, we do support the decision for further engagement with customers on the potential impacts of time of use tariffs as necessary and important.

"Our program will deliver smart meters to more than 600,000 homes and small businesses across Victoria over the next four years. This is an essential infrastructure upgrade. We are replacing meters which are on average 30 years old with digital technology which will position Victorians positively for the future.

"The smart meter technology we are rolling out is world class, has passed all tests, and will deliver to Victorians a number of benefits, now and in the future. As with all distributors, our costs are monitored by the independent Australian Energy Regulator, who also ensures that any benefits and savings created by smart meters are passed through to customers," Mr Gleeson said.

Ends

Media contact:
Lisa Drought
United Energy Corporate Affairs
0409 419 047


SOURCE: United Energy