PSE&G Selects Metretek Solution for Large-Scale Industrial Meter Reading Program.

Energy Editors/Business Editors

MELBOURNE, Fla.--(BUSINESS WIRE)--March 18, 2003

Metretek, Incorporated, a Florida-based subsidiary of Metretek Technologies, Inc. (OTCBB:MTEK), announced today the receipt of an order from Public Service Electric and Gas (PSE&G) of New Jersey to provide 6,000 Metretek DCM200 intelligent, wireless gateway devices, along with associated software and support services.

The DCM200 employs new technology to provide real-time wireless access to remote field devices over commercially available cellular networks worldwide. The PSE&G implementation will provide wireless Internet connectivity to commercial and industrial electricity meters in support of new tariff service offerings specifically designed for "Large Power and Light on Secondary" (LPLS) accounts.

According to Danny MacDonald, vice president of Sales and Customer Service at Metretek, Incorporated, this project is valuable to PSE&G not only for the benefits of having real time wireless access to these points, but also because it allows PSE&G to further leverage its investment in Metretek's DC2000 data collection, management and publishing software on both the gas and electric sides of the company. Achieving increased synergy in this area is expected to reduce duplication and streamline operations, while improving the overall timeliness and reliability of all data collection activities within the company. "Wireless data services are generally less expensive to administer, provide for greater installation flexibility and data throughput, and facilitate the elimination of modems and other hardware that may be prone to failure," said MacDonald.

"We are pleased that PSE&G shares our vision and enthusiasm for combining cellular, Internet and standards-based data management as specified in ANSI C12.19," said Joseph L. Harley Jr., vice president of Engineering and International Sales at Metretek, Incorporated. "We believe there is no more efficient system in the world for local, regional and global data collection. Metretek's DCM200 devices can be utilized with any manufacturer's ANSI C12.19-compliant meter or instrument, in conjunction with any of more than a hundred cellular carriers worldwide -- among them AT&T, Cingular and T-Mobile -- that operate a GSM (Global System for Mobile Communications) network, including those that offer GPRS (General Packet Radio Service), to provide secure 'end-to-end' real-time data collection capabilities via the Internet. The DCM200 can also collect and transport natural gas and water consumption information even as it simultaneously supports transport and management of ANSI C12.19 devices."

Public Service Electric and Gas Company (PSE&G), a subsidiary of Public Service Enterprise Group Incorporated (NYSE:PEG), provides natural gas and electricity to approximately 1.6 million gas customers and 2.0 million electric customers in New Jersey.

Metretek Technologies, Inc. through its subsidiaries -- PowerSecure, Inc.; Metretek, Incorporated; and Southern Flow Companies, Inc. -- designs and markets remote data-collection products and data-management systems tailored to the diverse needs of a variety of industrial and commercial customers, including users and suppliers of natural gas and electricity.

All forward-looking statements contained in this release, including statements concerning the Company's GSM/GPRS-enabled date-collection devices and the likelihood that these devices will allow the Company to broaden its product lines to service numerous other applications, are made within the meaning of and pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are all statements other than statements of historical facts, including statements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of management, such as statements about future earnings, revenues, and other future financial and non-financial items, performance or events; statements about proposed products, services, technologies or businesses; and statements of assumptions underlying any of the foregoing. Forward-looking statements are not guarantees of future performance or events and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed, projected or implied by such forward-looking statements. Important risks, uncertainties and other factors include, but are not limited to, the Company's ability to obtain sufficient capital and liquidity on favorable terms, to meet its operating, working capital and debt service requirements and to fund the growth of its business; the timely and successful development, production and market acceptance of new and enhanced products, services and technologies of the Company; the ability of the Company to benefit from organizational changes at its Metretek, Incorporated subsidiary; the Company's ability to attract, retain and motivate key personnel; the effects of competition in the Company's current and anticipated markets; the effects of the resolution of pending and future litigation and disputes; changes in the energy industry in general and the natural gas and electricity markets in particular; the ability of the Company to secure and maintain key contracts and relationships; general economic, market and business conditions; and other factors, risks, and uncertainties described from time to time in the Company's reports and filings with the Securities and Exchange Commission. Accordingly, there can be no assurance that the results expressed, projected or implied by any forward-looking statements will be achieved, and readers are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof and are based on the current plans, goals, objectives, strategies, intentions, expectations and assumptions of, and the information currently available to, management. The company assumes no duty or obligation to update or revise any forward-looking statements for any reason, whether as the result of changes in expectations, new information, future events, conditions or circumstances or otherwise.