Itron, Inc. Collaborates With Jemena to Enhance Energy Management With LV DERMS in Australia

Itron partners with Jemena to implement a system managing rooftop solar energy for better grid stability in Australia.

Quiver AI Summary

Itron, Inc. is partnering with Jemena, an Australian gas and electricity services provider, to implement Itron's Low Voltage Distributed Energy Resource Management System (LV DERMS) aimed at managing rooftop solar generation and improving energy system resilience. This innovative solution addresses operational challenges posed by consumer energy resources, particularly solar, by providing real-time insights for better decision-making. Beginning October 1, 2024, new rooftop solar systems in Victoria will require compatibility with utility management systems, allowing Jemena to control solar output and maintain grid stability. Itron's LV DERMS will enhance Jemena's ability to monitor and respond to energy levels, ensuring uninterrupted electricity supply while complying with state mandates. This deployment reflects the increasing adoption of renewable energy technologies in Australia and aligns with the country's climate goals.

Potential Positives

Itron is collaborating with Jemena to deploy its innovative Low Voltage Distributed Energy Resource Management System (LV DERMS), which enhances energy system resiliency and addresses planning and operational risks associated with rooftop solar generation.
The LV DERMS solution helps Jemena comply with regulatory mandates regarding rooftop solar systems, facilitating the management of supply-demand imbalances in the electricity grid.
Itron's technology provides near real-time insights into solar energy generation, allowing utilities to prevent grid instability and ensure uninterrupted electricity supply to customers.
The deployment of LV DERMS represents a cost-effective and secure integration with Jemena's existing systems, streamlining their operations while supporting Australia's climate goals and the growing adoption of consumer energy resources.

Potential Negatives

Collaboration with Jemena highlights regulatory challenges, such as the Victorian Government's mandate requiring new solar systems to have compatible inverters and internet connections, which could indicate a complicated compliance landscape for the industry.
The need for remote curtailment of solar power generation to manage supply-demand imbalances may raise concerns about customer dissatisfaction and reliability of renewable energy sources.
The focus on mitigating risks from rooftop solar suggests potential vulnerabilities in Itron's existing systems and the need for ongoing adaptation to evolving regulatory frameworks and technology advancements.

FAQ

What is Itron's LV DERMS solution?

Itron's LV DERMS is a Low Voltage Distributed Energy Resource Management System designed to manage rooftop solar generation for utilities.

How does LV DERMS help manage solar power?

LV DERMS provides real-time insights, allowing utilities to remotely curtail solar generation during supply and demand imbalances.

Why is this solution important for Jemena?

This solution helps Jemena comply with the Victorian Government mandate and ensures grid reliability amidst increasing solar adoption.

When will the new rooftop solar regulations take effect?

The regulations requiring utility-compatible inverters for new or upgraded rooftop solar systems will be effective from October 1, 2024.

How can I learn more about Australia's energy strategies?

Join the Smart Energy International webcast on December 3 to explore how Australia is optimizing consumer energy resources for a net-zero future.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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$ITRI insiders have traded $ITRI stock on the open market 21 times in the past 6 months. Of those trades, 0 have been purchases and 21 have been sales.

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JOAN S HOOPER (SVP & CFO) has traded it 2 times. They made 0 purchases and 2 sales, selling 1,014 shares.
THOMAS DEITRICH (President & CEO) has traded it 5 times. They made 0 purchases and 5 sales, selling 39,270 shares.
JOHN F. MARCOLINI (SVP, Networked Solutions) has traded it 2 times. They made 0 purchases and 2 sales, selling 460 shares.
JUSTIN K PATRICK (SVP, Device Solutions) has traded it 2 times. They made 0 purchases and 2 sales, selling 210 shares.
DONALD L. III REEVES (SVP, Outcomes) has traded it 5 times. They made 0 purchases and 5 sales, selling 7,937 shares.
CHRISTOPHER E. WARE (SVP, GC & Corp. Secretary) has traded it 2 times. They made 0 purchases and 2 sales, selling 183 shares.
DAVID MARSHALL WRIGHT (VP, Corp. Controller & CAO) sold 55 shares.
LAURIE ANN PULATIE-HAHN (SVP, HR) has traded it 2 times. They made 0 purchases and 2 sales, selling 156 shares.

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$ITRI Hedge Fund Activity

We have seen 211 institutional investors add shares of $ITRI stock to their portfolio, and 213 decrease their positions in their most recent quarter.

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SELECT EQUITY GROUP, L.P. removed 603,877 shares (-100.0%) from their portfolio in Q3 2024
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ENCOMPASS CAPITAL ADVISORS LLC removed 335,054 shares (-100.0%) from their portfolio in Q3 2024
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Full Release

LIBERTY LAKE, Wash., Dec. 01, 2024 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, is collaborating with

Jemena

, a provider of gas and electricity services to millions of customers in Australia, to deploy Itron's

Low Voltage Distributed Energy Resource Management System

(LV DERMS) to manage rooftop solar generation and enhance resiliency within the energy system. The innovative data-driven and flexible solution transforms the planning and operating risks caused by consumer energy resources (CERs), specifically solar, into opportunities. LV DERMS will help address challenges stemming from the integration of CER into the low voltage network with real-time insights to enable operational decisions.

Following the

emergency solar backstop mechanism

mandated by the Victorian Government, from Oct. 1, 2024, all new or upgraded rooftop solar systems must have a utility compatible inverter and reliable internet connection that will allow utilities to manage minimum demand. The Itron LV DERMS solution enables Jemena, at the direction of the Australian Energy Market Operator (AEMO), to remotely curtail solar power generation when supply and demand imbalances occur within the electricity grid. This capability ensures compliance with the Victoria mandate and offers an easy-to-install, cost-effective and secure solution for addressing stability challenges faced by AEMO, which stem from the low voltage distribution network.

Itron's LV DERMS allows Jemena to continuously collect and process secure solar system generation data from all new rooftop solar connected to the system from Oct. 1, 2024. Near real-time information provides Jemena with visibility into the energy levels in their distribution network to respond and prevent grid instability caused by excess generation within the energy system. When Jemena moderates solar input to the grid to ensure grid reliability, customer electricity supply will continue uninterrupted. Itron's LV DERMS offers a seamless deployment with Jemena's existing back-office systems, delivering a complete view of the electricity network performance.

"Across Jemena's electricity distribution network, we are seeing more customers adopt solar panels, electric vehicles and other technologies than ever before. While solar generation is beneficial to customers and a sustainable way to power homes, excess solar power can cause supply-demand imbalance within the energy system and potentially overload it,"

said Georgia Cronin, General Manager Customer & Energy Solutions at Jemena

. "Itron's LV DERMS helps us manage minimum demand and contributes to keeping the lights on for our customers."

"Maximizing the contribution of consumer energy resources (CERs) is key to meeting Australia's climate goals, and with rooftop solar at 30% penetration, it's growing faster than any other renewable sources across the continent. Australia recognizes the risks to the energy system from rooftop solar and is leading the industry as they implement mandates to prepare for the future of CERs,"

said Alex Beveridge, Itron's director of sales for APAC

. "Designed specifically for the Australian market, our LV DERMS not only addresses the stability challenges facing the energy system but will also help Jemena better understand capacity constraints within the electricity distribution network. With Itron's solutions already integrated at the edge of many Australian utility providers' Advanced Metering Infrastructures (AMI) networks, deploying Itron's LV DERMS provides a cost-effective and streamlined approach, as seen with Jemena."

To learn how Australia is optimizing CERs to meet the country's net-zero future, join the Smart Energy International webcast featuring spokespeople from Itron and Jemena on Tuesday, Dec. 3 at 3:00 p.m. AEDT or on Monday, Dec. 2 at 8:00 p.m. PST

here

.

About Itron

Itron is a proven global leader in energy, water, smart city, IoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us:

.

Itron and the Itron Logo are registered trademarks of Itron Inc. in the United States and other countries and jurisdictions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Sharon Chong
Field Marketing Manager, Asia Pacific
Office: +65 69837687

sharon.chong@itron.com

Paul Vincent
Vice President, Investor Relations
512-560-1172

Investors@itron.com