By Stephen Nakrosis
Xcel Energy said Tuesday it would be collaborating with Itron to secure and install smart meters across the power company's system.
"The agreement creates a new strategic collaboration with Itron to develop industry-leading smart technology for the energy grid and to give customers more insight into their energy usage, while enhancing grid reliability and improving response time to outages," Xcel said.
The installation of the new meters will take place over the next five years, Xcel said. The company said it intends to install the meters across its entire service area, subject to regulatory concerns.
The company said new apps could help customers monitor energy use, including for individual appliances, and submeter the charging of electric vehicles. The apps also could help customers pay bills and potentially participate in prepaid electricity plans, Xcel said.
Xcel Energy provides energy to homes and businesses across eight Western and Midwestern states.
Itron Inc. provides solutions to measure energy and water use.
--Write to Stephen Nakrosis at email@example.com