Le Lézard
Classified in: Oil industry, Business
Subject: CON

Eltel's Power Business Wins New Gas Adjustment Contracts With Utilities in Germany

HELSINKI, Oct. 3, 2017 /PRNewswire/ -- Eltel has won three new contracts with gas utilities in Germany for the time period 2017?2022. The contracts with Avacon GmbH and BS Netz GmbH comprise gas installation adjustments to change the natural gas type for private households. The third contract with EWE NETZ GmbH is related to manual meter readings of gas, electricity and water consumption. The total value of the contracts is estimated to be approximately ten million euros.

Due to the lower supply of L gas, Germany has started a programme to change the gas type used by households to H gas. Eltel's scope ranges from project management to logistics and adjustments of installations by the new standard. Based on new legislation, this change requires the adjustment of a total of five million gas installations in Germany by 2030. The shift in gas type improves the energy efficiency and lowers future CO2 emissions.

In May 2016, Eltel entered the gas metering sector in Germany through its acquisition of U-Serv GmbH. This competence in the gas sector, in combination with Eltel's knowhow and established processes for planning, customer communications and deployment roll-outs, makes Eltel well positioned for these contracts. Currently, Eltel already performs several million meter readings annually in Germany.

For further information:

Hannu Tynkkynen
Director ? External Communications and Sustainability
Tel: +358-40-311-4503

About Eltel

Eltel is a leading Northern European provider of technical services for critical infrastructure networks ? Infranets ? in the segments of Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. In 2016, Eltel net sales amounted to EUR 1.4 billion. The current number of employees is approximately 8,700. Since February 2015, Eltel AB is listed on Nasdaq Stockholm.

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