LONDON, June 15 (Reuters) - British technology company VPhase expects to
come close to breaking even next year after getting safety clearance to start selling a device designed to cut household electricity bills by 10 percent.
The Smart Voltage Management device is attached to a domestic fuse box and regulates the level of voltage coming into a house, cutting bills by about 10 percent, said VPhase, a subsidiary of Energetix Group.
VPhase said the product had been awarded a CE certification, a prerequisite safety marking for all electrical appliances before they can be sold in the European Union.
'Next year I would have thought our gross profits are going to be in the 2 to 2.5 million pounds ($4.09 million) range ... it's going to be close (to break even),' Executive Chairman Adrian Hutchings told Reuters.
Broker Ambrian has previously predicted that the company will sell 7,000 units this year.
'I would have thought that's something I would like to be able to beat,' Hutchings said in a telephone interview.
The company added that the certification will allow it to carry out household field trials with its UK utility partners, Scottish & Southern Energy and British Gas, owned by Centrica.
Shares in VPhase were up 7.5 percent at 7.9 pence by 1009 GMT.
(Editing by Julie Crust and Rupert Winchester) ($1=.6119 Pound) Keywords: VPHASE/
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