Part of the contract will cover the provision of a state-of-the-art billing process, which is likely to include a new electric and water metering system for both residential and commercial customers. The expectation is that smart meters will be installed throughout the island – not least in an effort to reduce the amount of energy and water lost to theft and leaks.
The utilities state that close to 20% of electricity and water supplied is not billed for, because of theft and leakages, and the two-way communication provided by the smart meters will allow both to be detected more easily. It is hoped that the resulting improved revenue will cover the capital cost of the smart meters.
The strategic partnership will also see the winning company operating parts of the utility-providers’ businesses, mostly back office and billing operations, as well as supplying equipment.