KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Singapore Power (SP) won the ‘Smart Grid Project of the Year’ award at the Asian Power Awards 2014 today, for its programme with Silver Spring Networks, Inc. (NYSE:SSNI) to enable deregulated energy services in Singapore. This was enabled by SP's successful deployment of a smart infrastructure networking platform, with nation-wide coverage, through Silver Spring’s IPv6 technology.
Since April 2014, SP has successfully begun delivering deregulated energy services to 15,000 commercial and industrial (C&I) customers, in support of the Singapore government’s policy to progressively liberalise the retail electricity market.
In addition, SP leveraged Silver Spring’s MicroAP Technology and a RF mesh canopy network to reach geographically dispersed customers, and maintain 99.5% meter read success rate. This helps SP ensure reliable communications from anywhere, at all times.
“The ‘Smart Grid Project of the Year’ award recognises Singapore Power for delivering reliable and efficient energy services to consumers. Through the deployment of new technology, SP has empowered our customers with more choice and the ability to better manage their energy usage, so as to achieve savings on electricity bills,” said Peter Leong, Managing Director, SP PowerGrid. “Silver Spring Networks is a key partner in the implementation of this country-wide platform. Through such partnerships, Singapore Power can continue to deliver greater value to Singapore consumers.”
“We congratulate Singapore Power on today’s win and are happy to partner with them to deploy world-class infrastructure that helps deliver lower prices and greater choice to their customers,” said Eric Dresselhuys, EVP of Global Development and Sales, Silver Spring Networks. “Utilities across Asia can look to Singapore Power as a best practice example for how to deploy smart grid services. Their sophisticated network canopy delivers scalable smart grid and smart city applications to help drive energy efficiency and new services for consumers for years to come.”
About Singapore Power
Singapore Power Group (SP) is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP’s world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide. For more information, please visit www.singaporepower.com.sg.
About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 19 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks’ customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to statements regarding Silver Spring Networks’ engagement with Singapore Power, and the benefits of that engagement to SP and its customers. Statements including words such as "anticipate", "believe", "estimate", "expect" or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks' documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.