In June 2003 Powel secured a large contract with Vattenfall Elnät AB for the supply of systems that enable Vattenfall to invoice their customers directly for actual electricity consumption. Vattenfall Elnät considers this to be an important improvement in their service to customers. The customers will not have to read their own meters.
Vattenfall buys a total solution from Powel and the delivery is to be completed by the end of 2003.
In addition to the agreement with Vattenfall, Powel has also been chosen as supplier of a new planning system for water production for the power producer Graninge KraftAB in Sweden. Graninge Kraft AB is Sweden’s 5th largest hydropower producer and has a total annual production of 3.2 TWh from wholly owned or partly owned power stations. The main delivery is to take place in the autumn of 2003.
The market prospects for Powel in Sweden continue to be very positive, because, amongst other things, Svenske Riksdagen (the Swedish parliament) on June 11 passed a resolution that metered values for all electricity customers are to be read every month. The resolution implies that this is to be implemented for all subscribers by the end of 2009. Swedish power companies, lead by Vattenfall have started making preparations and they will invest in new systems that make it possible to implement the resolution made by Riksdagen, at the same time as the customers will experience better service.