SMS secures contract with Total Gas & Power

RNS Number : 2998F

Smart Metering Systems PLC

19 February 2015

 



Smart Metering Systems plc

("SMS" or "the Company")

SMS secures contract with Total Gas & Power Limited

The Board of Smart Metering Systems plc (AIM: SMS.L) is pleased to announce that its Electricity division has signed an agreement for the provision and ownership of electricity meters and data management services with Total Gas & Power Limited ("TGP"), a UK subsidiary of Total S.A. and an existing customer of SMS's Gas division.

The contract with TGP relates to an initial order of approximately 5,000 meters to be installed prior to April 2016, which includes the provision of data services, and SMS believes that there is capacity for this number to increase in due course. 

Alan Foy, Chief Executive Officer of SMS, commented:

"Following recent contract wins with Opus Energy and DONG, this new agreement with TGP is further demonstration of the success of our Electricity division and the positive impact of expanding our service offering across the gas and electricity sectors to provide a fully integrated service in these markets for our customers. This contract will provide an increase in the recurring revenue of our Electricity division, continuing the substantial growth as announced in our trading update."

Karole Downton of Total Gas & Power Limited, commented:

"Total Gas & Power enjoys a strong relationship with SMS's Gas division and the extension of this relationship to SMS's Electricity Division was the logical next step. This will enable us to offer the most advanced metering solutions to our gas and electricity customers, and ultimately help them to most effectively manage and reduce their energy costs."

For further information:

Smart Metering Systems plc	0141 249 3850
Alan Foy, Chief Executive Officer
Glen Murray, Finance Director
Cenkos Securities plc	0131 220 6939 / 0207 397 8900
Neil McDonald
Nick Tulloch
Kreab Gavin Anderson	020 7074 1800
Chris Philipsborn
Natalie Biasin
Matthew Jervois

Notes to Editors 

About Smart Metering Systems

Established in 1995, Smart Metering Systems plc, based in Glasgow, is an integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases on behalf of major energy companies.

Currently the Company is concentrating its efforts on offering its unique integrated services to the UK industrial and commercial gas market in which its customers have an 80% market share.

The Company has further applications for gas with its ADM™ device which allows "smart" functions such as remote reading and half-hourly consumption data to be offered to customers in addition to the normal metering services.

SMS expanded its services into the electricity market through the acquisition of Utility Partnership Limited in April 2014. The Company can now provide a fully integrated service from beginning to end to cover the installation of a gas/electricity supply/connection to the procurement, installation and management of a gas or electricity meter asset to the collection and management of customer data and ongoing energy management services. Longer term the Company also has additional applications for water and LPG.

The Company was admitted to the AIM market in July 2011 and is now part of the FTSE AIM 50 index. For more information on SMS please visit the Company's website: www.sms-plc.com.

 

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