Secure Meters was the first company to introduce electronic energy meters in India in the late eighties. Sustained accuracy, high quality and features that helped revenue protection were a hallmark of the products from Secure Meters. These enabled Indian utilities to reduce their commercial losses and improve energy management.
The prepayment metering concept that we developed empowered electricity customers in India to manage their demand and conserve energy. Today, thousands of customers all over India are using this innovative metering concept. On the other hand, it enables a utility to change consumption patterns by differential pricing. The revenue is assured as it is received in advance. Thus, the system benefits both our customer and the end user.
The Indian power sector is undergoing change and reforms are underway to reduce losses, improve quality and reliability of power supply at an affordable cost. More than one hundred utilities in India, both in private and public sector, are using our products and solutions to achieve this objective.
We are a preferred vendor to most of them because of our approach in doing business and the support that we provide. All this is a reflection of our philosophy of working together with our customers.
India implemented availability based tariff (ABT) in the early nineties to improve grid stability. The first ABT meter was designed by Secure Meters. Today, a majority of the grid meters in India are ours.
We continue to look ahead to the future and can help utilities, private and public, improve their revenue realisation. Our energy management systems have helped large industries, housing complexes, commercial complexes in saving substantial amount of energy and carbon. Distribution transformer metering systems, meter data acquisitions systems and other innovative solutions are helping to better manage the distribution system.
After success in India, now our products and solutions are getting traction in South East Asian and African markets because they face challenges similar to those faced by the Indian distribution system.