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Smart Metering Systems PLC   -  SMS   

New domestic smart meter contract win

Released 16:00 10-Aug-2017

RNS Number : 7060N
Smart Metering Systems PLC
10 August 2017
 

Smart Metering Systems plc

 

("SMS" or the "Company")

 

New domestic smart meter contract win

 

Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, is pleased to announce that it has signed a new meter rental agreement with Utility Warehouse to provide a minimum of 100,000 new meters starting immediately.

 

Under the terms of the agreement, SMS will provide domestic smart meters as part of the UK Government programme, overseen by the Department of Business Energy and Industrial Strategy, requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.

 

The funding of the domestic smart meters will be within SMS' existing syndicated banking facility and on the same terms.

 

Alan Foy, Chief Executive Officer, commented:

 

"We are delighted to be working with Utility Warehouse who are part of the fastest-growing segment of the retail energy supply in the UK. SMS is well positioned to add these assets into its existing and growing portfolio of owned meter assets delivered from our established in house installation and asset ownership operations."

For further Information:

Smart Metering Systems plc

0141 249 3850

Alan Foy, Chief Executive Officer

 

Craig McGinn, Company Secretary

 

 

 

Cenkos Securities plc

0131 220 6939 / 0207 397 8900

Neil McDonald

 

Nick Tulloch

 

Beth McKiernan

 

 

 

Kreab 

020 7074 1800

Matthew Jervois

 

Daniel Holgersson

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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New domestic smart meter contract win - RNS