A project to replace all electric and water meters in Newark’s service area will bring state-of-the-art equipment to the city known as “smart meters.” Now there will be more efficient meter readings and reduced operational costs.
On Monday, Newark’s Mayor and City Council approved the $11.7 million project that’s set to begin in January. Installation could take up to a year but utility officials as well as the City manager are already looking forward to the switch.
“Newark’s team is ready to go and enthusiastic about the increased efficiencies and operational improvements this project offers,” said City Manager Carol Houck.
According to city officials, Newark’s Mayor and City Council members have also decided to dedicate more than $5 million in operational cost savings to fund costs and financing associated with the project. In fact, more than $15 million over a period of 15 years from Honeywell’s Annual Meter Accuracy Guarantee will be used to help as well. During that time Honeywell is expected to contribute nearly $2.8 million.
Meanwhile, community members have already been made aware of project details through informational sessions and once everything is completed, customers will be able to log online to see how smart the meters actually are by checking up-to-date utility usage.