September 10, 2014 – SaskPower says it has reached an agreement with Sensus to recover the $47-million cost associated with the removal of smart meters.

SaskPower will receive a $24-million cash refund from Sensus for all of the meters SaskPower had purchased—both those that were already installed and are now being removed, and those that had not yet been installed.

The utility says it will receive an additional $18 million credit from Sensus for future metering products. Sensus, meantime, will invest $5 million toward R&D of a next-generation meter that meets SaskPower’s needs. The new meter will meet Underwriters Laboratories (UL) standards and pass safety verification by an independent third party to ensure the meters function safely in Saskatchewan, says the utility.

SaskPower is continuing to remove the smart meters that have already been installed, and expects to have all of the smart meters removed by the end of this year. There will be no impact on rates for Saskatchewan customers as a result of the current residential meter exchange program.