Smart Meter I.T. system Failure From AusNet – ConspiracyOz

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Eligible customers will get a onc-off $125 rebate.

A POWER giant has to pay $28.75 million compensation to hundreds of thousands of customers with smart meters that are not functioning ­properly due to an “unstable” IT system.

The 230,000 AusNet Services customers will each be paid $125 with the problem not ­likely to be fully resolved until the end of the year. The distribution company, which covers Melbourne’s eastern suburbs and northeast and eastern Victoria, will this month contact those affected. Customers should be paid the compensation rebates within the next three months.

Other distributors United Energy, CitiPower and Powercor will also pay the compensation for faulty meters but only about 2500 customers across those companies have been effected.

An unstable IT system has caused mass delays in activating AusNet smart meters to remotely transmit electricity use data. Those meters are instead still manually read. Billing accuracy is unaffected, but customers are missing out on services such as remote reconnection when moving house.

Some are also blocked from signing on to retailers’ flexible tariffs that charge consumers for electricity according to time of use. AusNet Services has fitted more than 700,000 smart meters.

Of those, 470,000 are communicating remotely but the rest are not. The problem is not expected to be fully resolved until the end of next year. Spokesman Jonathon Geddes said the business was “working hard to complete the program as quickly as possible”. “Due to instability issues with our metering systems’ performance … AusNet Services reduced meter conversions for remote communication while working to ensure stability,” Mr Geddes said.

Consumers were entitled to compensation if their smart meters were not remotely read by March 31. “The Victorian Government has required we pay eligible customers a one-off $125 rebate. These customers will continue to have their meters manually read and won’t have access to the benefits of a ­remote communicating meter, such as remote reconnection when moving house.” The company identified smart meter IT problems, such as overnight electricity consumption data delivery, last year. It is spending $175 million on a fix-it program.

More Links – Mick Raven

EnergyAustralia – Wikipedia

CLP Group – Wikipedia

Electricity Victoria | Compare Energy Companies in Victoria Australia

AusNet Services – Wikipedia

Jemena – Wikipedia

Powercor Australia – Wikipedia

United Energy and Multinet Gas

Spark Infrastructure – Wikipedia

State Grid Corporation of China – Wikipedia

Cheung Kong Infrastructure Holdings – Wikipedia

DUET Group

DUET | Annual Report 2014
Twenty Largest Investors
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
NATIONAL NOMINEES LIMITED

J P MORGAN NOMINEES AUSTRALIA LIMITED

CITICORP NOMINEES PTY LIMITED
BNP PARIBAS NOMS PTY LTD
AMP LIFE LIMITED
UBS WEALTH MANAGEMENT AUSTRALIA NOMINEES PTY LTD
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
ARGO INVESTMENTS LIMITED
CITICORP NOMINEES PTY LIMITED
QUESTOR FINANCIAL SERVICES LIMITED
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
NAVIGATOR AUSTRALIA LTD
SELLERS HOLDINGS PTY LIMITED
BKI INVESTMENT COMPANY LIMITED
SANDHURST TRUSTEES LTD
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
EDSGEAR PTY LTD
AUSTRALIAN EXECUTOR TRUSTEES LIMITED
BAINPRO NOMINEES PTY LIMITED
Total: Top 20 holders
997,787,714
75.15
Substantial Stapled Securityholders
Lazard Asset Management Pacific Co
AMP Limited
Deutsche Bank AG & Spark Infrastructure
Total Remaining Holders Balance
329,931,730
24.85
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Posted on April 13, 2015, in ConspiracyOz Posts and tagged , . Bookmark the permalink. Leave a comment.

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