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posted on
Nov 18, 2008 04:38AM
Take Remote Control
Good morning! The following release is set to go out this morning at 7am Eastern, and briefly discusses an article that appeared in the Wall Street Journal earlier this month. That article names several electric utilities from around the country, each of which says it is performing more service disconnects on delinquent accounts since the beginning of this current economic downturn. More disconnects equates to more demand for our one-way CEO700 and two-way CEO800 devices. Some of the statistics from this article were also mentioned in a CBS Morning News interview that can be viewed at – November 18, 2008 - Nighthawk Systems, Inc. (OTC BB: NIHK) ("Nighthawk"), a leading provider of wireless and IP-based control devices and solutions, today commented on a recent news article from the Wall Street Journal titled "More Utility Bills Go Unpaid."
The article, which can be found by conducting an Internet search for the title of the article, states that" Utilities are becoming more aggressive about collecting money from delinquent customers, leading to a surge in service shutdowns just as economic woes are pushing up the number of households falling behind on bills." The article references statistics from various electric utilities including PPL Corp. in Pennsylvania, the city-owned utility in Memphis, Tennessee, Public Service Enterprise Group, Inc. in New Jersey, Chicago-based Exelon Corp and Northeast Utilities, which provides electric service in three Northeastern states. Each of these utilities provided statistics showing that delinquent accounts were on the rise and stated that more money was being spent on service disconnects as a result. Nighthawk Systems manufactures and sells the CEO700 and CEO800 series of whole house disconnect units, which allow electric utilities to wirelessly disconnect and re-connect power to customers from a central facility, eliminating the costly, time-consuming and sometimes dangerous process of sending personnel to the customer’s site to perform the function. When placed with existing or new AMR meters, Nighthawk products provide utilities with two-way communications to the meter. Utilities can read meters and then remotely initiate service disconnects, current limiting or even prepaid service programs utilizing Nighthawk products. H. Douglas Saathoff, Nighthawk’s CEO, stated, "The current economic downturn is actually leading to increased demand for disconnect products such as our one-way CEO700 and our two-way CEO800. Electric utilities are looking to cut mounting losses associated with delinquent accounts, as well as expenses that have traditionally been associated with manually disconnecting and then reconnecting service to customers. Our products provide the most economical and efficient way to cut expenses associated with delinquent accounts, and also improve customer response times associated with reconnecting service once accounts have been brought current. No changes to billing systems are required. Service connects and disconnects are a mouse click away using our Utility WebconnectTM hosted software platform." About Nighthawk Systems: Nighthawk is a leading provider of intelligent devices and systems that allow for the centralized, on-demand management of assets and processes. Nighthawk products are used throughout the United States in a variety of mission critical applications, including remotely turning on/off and rebooting devices, activating alarms, and emergency notification, including the display of custom messages. Nighthawk’s IPTV set top boxes are utilized by the hospitality industry to provide in-room standard and high definition television and video on demand. Individuals interested in Nighthawk Systems can sign up to receive email alerts by visiting the Company’s website at . .
http://www.cbsnews.com/stories/2008/...