CURRENT Group LLC, headquartered outside of Washington, D.C. has reportedly announced the reaching of an agreement with Verizon to provide an Internet protocol-based solution that will enable electric utilities to assume smart grid capabilities by merging intelligent distributed sensing offered by CURRENT.

 

Under the deal, both the companies will facilitate real-time power utilization and study the communication between electric companies and sensors deployed on their networks. For the purpose of delivering a smart grid solution both CURRENT and Verizon (News - Alert) are planning to pull-in their main capabilities to offer the solution as a package.

 

 “This package of essential ingredients will help jump-start power industry efforts to employ smart grid technologies in their day-to-day business operations,” Rilck Noel, managing director for Verizon’s global energy and utility practice, said. “The solution will help electric utilities speed integration of renewable energy sources, improve overall grid operations, and realize a secure, IP-enabled smart grid. We will continue to partner with industry leaders to develop end-to-end solutions for our customers.”

 

Verizon is planning to offer the basic wireless and IP network services, managed network and security services, and advanced IT security consulting services to assist electric companies classify and lessen threats to critical cyber assets, including data, applications, IT systems and networks.

 CURRENT on its part will supply intelligent sensors that can observe distribution grid performance; its Open Grid utility element management system; and its System Optimization and Reliability analytical software solutions.

 

 “Today’s utilities face unprecedented challenges to improve performance and efficiency at a time when infrastructure costs are skyrocketing, energy consumption is down and policy uncertainty abounds,” CURRENT CEO Tom Casey said. “Integrated distribution smart grid technologies like that of CURRENT and Verizon provide utilities with low investment solutions that are easy to deploy and deliver fast, measurable results.”

 

The affiliation between CURRENT and Verizon and their collective experience is anticipated to bring-in improvements for an IP-enabled smart grid. The solution is expected to improve the capabilities of electric utilities in processing the information securely, speedily and consistently and likely to become a focal point in competent organizing of production, distribution and consumption.