The electric energy grid in the U.S. is over 100 years old, and there are number of companies that are working to breathe new life into the grid by making it smarter. Hilary Kramer, editor of, says that there are two companies that she especially likes for investors that are at the forefront. Plus, she says they trade at attractive valuations.

One is Itron (ITRI), a smart metering company that lets utilities operate more efficiently while enabling residents to better monitor their expenditures. The company is experiencing high growth.

The other company is Echelon (ELON), another smart metering company that Kramer says is also building a communications network that is run remotely. The company has had some big successes with its technology in Europe and Russia and a deal with Duke Energy, which plans to roll out smart meter technology in Ohio and Indiana, could make Echelon a significant player in the U.S.

Watch the short video to see why shares of ITRI and ELON could be good bets.

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