18 Oct 2018 14:58
This includes inside information
Smart Metering Systems plc
("SMS" or "the Company")
New Domestic smart meter contract win - First Utility Limited
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 an exclusive agreement to 31st December 2021 with First Utility Limited ("First Utility") as its fully integrated domestic smart meter installer and Meter Asset Provider.
First Utility, recently acquired by The Shell Petroleum Company Limited, is one of the largest challenger energy suppliers in the UK serving electricity, gas and dual fuel customers.
Under the terms of the exclusive agreement, SMS will have initial access to up to 1 million meter points to exchange, fund and install domestic smart meters on behalf of First Utility as part of the UK Government programme, overseen by the Department of Business, Energy and Industrial Strategy (BEIS), 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.
Colin Crooks, Chief Executive Officer of First Utility, said:
"The UK's national smart meter programme represents a great opportunity to transform the energy network in this country and build a platform for future innovation and long-term benefits to consumers. This partnership with SMS will extend our ability to deliver on that potential and cost effectively meet our own obligations as part of the roll out."
Alan Foy, Chief Executive Officer of SMS, commented:
"We are delighted to be extending our long-term partnership with First Utility on their domestic smart meter rollout programme. First Utility have a strong track record as one of the leading challenger UK energy suppliers, and SMS are well positioned and committed to lead the delivery of benefits that smart meters bring to their significant customer base."
For further information:
Smart Metering Systems plc | 0141 249 3850 |
Alan Foy, Chief Executive Officer | |
David Thompson, Chief Financial Officer | |
Craig McGinn, Company Secretary | |
Cenkos Securities plc | 0131 220 6939 / 0207 397 8900 |
Neil McDonald | |
Beth McKiernan | |
Kreab | 020 7074 1800 |
Matthew Jervois |