September 17, 2007 11:30 ET

Corix Utilities Wins US$100 Million Electric Meter Contract in California

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2007) - Corix Utilities (Corix) has been awarded an electric meter installation contract by Southern California Edison (SCE) that is valued at US$100 million. Under the terms of the contract, Corix will hire, train and manage a deployment staff of approximately 150 union meter installers who will then exchange 4.5 million residential and small business meters served by SCE in California. The contract is subject to approval by the California Public Utilities Commission.

"This is a huge 'win' for us, as it was a very competitive bid process," said Brett Hodson, President and CEO from Corix. "It shows how competitive and successful we can be in California and the western United States, which is one of Corix's strategic goals. With the recent acquisition of the Edward S. Walsh water products company in California, we are well positioned for even greater success there in the future."

Corix's work will be part of SCE's advanced metering program - called Edison SmartConnect - that will see the deployment of 5.3 million "smart" meters to all of its residential and business customers who have less than 200 kilowatts of energy demand. The estimated capital cost of the project is US$1.3 billion, but that is less than the savings projected from the new smart metering technology. It will be able to "talk" to the coming generation of smart household devices - like thermostats - allowing customers more options for saving energy and money. All of the programs savings will be passed on to customers.

"Smart metering programs like this one are another example of how we are actually helping our partners implement sustainable solutions," added Hodson. "The end result for them - whether it is conserving energy, water or more efficient use of their infrastructure - is a lower environmental footprint."

Corix Utilities is part of the Corix Group of Companies, which is based in Vancouver, B.C. and specializes in providing infrastructure solutions in the water, wastewater and sustainable energy sectors. It has over 1000 employees in 40 locations across North America. Corix is a private company whose primary owners are the 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.

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