Smart Metering Systems PLC SMS signs contract with British Gas Business (0424N)
23 Juli 2014 - 8:02AM
UK Regulatory
TIDMSMS
RNS Number : 0424N
Smart Metering Systems PLC
23 July 2014
23 July 2014
Smart Metering Systems plc
("SMS" or "the Company")
SMS signs contract with British Gas Business for gas meter
exchanges and delivery of automated meter reads
The Board of Smart Metering Systems plc (AIM: SMS.L), is
delighted to announce that, following a tender process by British
Gas Business (BGB), SMS has been awarded a new contract to install
and maintain around 50% of BGB's portfolio of gas meter points.
Under the terms of the contract, SMS will replace BGB's existing
diaphragm and pulse output gas meters with Elster meters, which
have an integrated data communications system. SMS will also
install its ADM(TM) solution for BGB's customers to both existing
and exchanged rotary and turbine gas meters. The programme roll out
is anticipated to complete by 2017 and, once installed, the meters
will form part of SMS's long term index linked contracts.
Alan Foy, CEO of SMS plc, commented:
"We are delighted that BGB has chosen SMS to undertake this
meter exchange programme over the next three years. The signing of
this contract is another step towards our ambition to become market
leader in the independent ownership of I&C meters and in the
provision of automated meter reading solutions for our
customers."
Matt Idle, Director of Customer Operations, British Gas
commented:
"Since 2008 we have made significant efforts to ensure that all
of our customers could benefit from advanced metering, and this
agreement is the result of many years of development. The Elster
meters installed and maintained by SMS will enable our corporate
customers to benefit from innovative technology, which will make it
easier for them to control 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 / 020 7397 8900
Neil McDonald
Beth McKiernan
Kreab Gavin Anderson 020 7074 1800
Chris Philipsborn
Natalie Biasin
British Gas 07789 575 915
Katie Alloway
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc based in
Glasgow, connects, owns, operates and maintains metering systems
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(TM)
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
About British Gas
British Gas is one of the UK's leading energy suppliers, and
serves around 11 million homes in Britain - nearly half the
country's homes - as well as providing energy to one million UK
businesses. British Gas provides value for money, dedicated
customer service, innovative energy solutions and high quality Home
Services expertise. Find out more at www.britishgas.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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