Corix

Corix

January 25, 2011 15:12 ET

Corix Utilities Selected by BC Hydro to Deploy 1.8 Million Smart Meters

Largest Project of Its Kind in Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2011) - BC Hydro announced today that Corix Utilities has been selected for the installation portion of its Smart Metering Program. This $73 million contract will see Corix, a BC-based company, installing 1.8 million smart meters throughout BC Hydro's service area.

"Corix is very excited to be serving the needs of customers in our home province," said Brett Hodson, President and Chief Executive Officer (CEO) of the Corix Group of Companies. "We have industry-leading experience and expertise in the area of smart meter installation across North America, including ongoing projects in Alberta with over 360,000 installations completed, and in California with over 2,000,000 meter exchanges completed since September 2009.

BC Hydro's Smart Metering Program is part of a multi-year plan for improving safety, reliability and modernizing the province's electricity grid. The initiative will see the replacement of 1.8 million electromechanical meters, now becoming obsolete, with new digital smart meters. Smart meters enable two-way communication between the customer and the utility, giving customers more information about their consumption than ever before. In addition, the new metering system will reduce operating costs and help to keep BC Hydro's rates lower than they would have otherwise been without the Smart Metering Program.

"Corix emerged as the clear winner from what was a rigorous and very competitive Request for Proposal (RFP) process," said Gary Murphy, Chief Project Officer of BC Hydro's Smart Metering Program. "I congratulate the Corix team and we look forward to working with them to provide our customers with enhanced service options and more choice and control over their electricity consumption."

Preparation and staging work for meter installation will commence immediately. Starting in summer 2011 smart meter installation will begin in several communities throughout the province with completion targeted for December 2012.

About BC Hydro

Fifty years ago, British Columbians turned to BC Hydro to build the clean electricity system they count on to power B.C.'s economy, create jobs in every region, and keep the lights on. Now, BC Hydro is building again for the next 50 years. B.C. continues to grow and so has the need for more electricity. That's why BC Hydro is building, renewing, and encouraging conservation to meet today's needs and those of future generations, and today's announcement of the Smart Metering Business Case is an example of this. In 2011 BC Hydro is celebrating 50 years of providing power for British Columbians, and inviting them to help prepare for the next 50 years.

More information is available at www.bchydro.com.

About Corix

The Corix Group of Companies – based in Vancouver, BC – specializes in providing field metering services, products and utility solutions for sustainable infrastructure in the water, wastewater and energy sectors for clients across North America. It has over 2000 employees in 60 locations across North America. Corix is a private company whose primary owners are BC Investment Management Corporation and CAI Capital Management Inc., two large and stable members of the Canadian investment community who specialize in public pension funds. Please visit www.corix.com for more information.

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