TIDMSMS
RNS Number : 3200N
Smart Metering Systems PLC
17 January 2019
This announcement contains inside information
Smart Metering Systems plc
("SMS" or "the Company")
New Domestic smart meter contract win - Octopus Energy
Limited
Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated
metering services company that connects (installs), owns, operates
and maintains UK metering assets, is pleased to announce that it
has signed a meter rental agreement with Octopus Energy Limited
("Octopus Energy") to supply a minimum of 200,000 new SMETS2
meters.
This forms 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.
SMETS 2 meters are the next generation of smart meters and will
deliver a wide range of improvements, including: interoperability -
these devices enable seamless switching between energy suppliers by
connecting with the Data Communications Company (DCC); maintain and
extend the highest standard of security for householder data and
will facilitate the connection of all types of home renewable and
microgeneration technology onto the grid, supporting a cleaner,
greener UK.
Alan Foy, Chief Executive Officer, commented:
"We are delighted to be working with Octopus Energy, a supplier
of 100% green electricity. Octopus Energy is backed by the Octopus
Group, which is a large investor in renewable generation
internationally and the United Kingdom's largest investor in solar
power. SMS, like Octopus Energy, are committed to leading the smart
energy revolution and SMS looks forward to bringing the benefits of
smart meters to Octopus Energy's customers".
Stuart Jackson, Chief Financial Officer of Octopus Energy,
said:
"The size of this partnership is a result of Octopus Energy's
tremendous growth and ambition. Our success is driven by our unique
technology and commitment to customer service, as demonstrated by
Octopus being the only energy supplier recommended by Which?"
For further information:
Smart Metering Systems plc 0141 249 3850
Alan Foy, Chief Executive Officer
------------------------------
David Thompson, Chief Financial
Officer
------------------------------
Craig McGinn, Company Secretary
------------------------------
Dilip Kejriwal, Head of Investor
Relations
------------------------------
Cenkos Securities plc 0131 220 6939 / 0207 397 8900
------------------------------
Neil McDonald
------------------------------
Beth McKiernan
------------------------------
Kreab 020 7074 1800
------------------------------
Matthew Jervois
------------------------------
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc, headquartered
in Glasgow, installs, owns, operates and maintains gas and
electricity meters on behalf of major energy companies in the UK
energy and utilities market.
The SMS Meter Assets business delivers long term stable income
from ownership of over 2.5 million utility metering assets.
The SMS Asset Installation business installs gas and electricity
meter assets for the Meter Asset business through engineering
workforce across the UK.
SMS provide energy management and consultancy services to
support large blue-chip companies in the UK, through a network of
offices across the UK.
The energy management and asset installation services also
include infrastructure design, installation, consultancy and
project management services for new gas, electricity, water and
telecoms connections for licenced energy and telecoms suppliers,
end consumers and the UK's licenced electricity Distribution
Network Owners (DNO's).
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 DCC (Data Communications Company)
DCC is leading the design, build, test and integration of the
data and communications infrastructure to connect with the business
systems of energy.
Smart DCC Ltd (DCC) operates under the Smart Meter Communication
Licence which was granted by the Department of Business, Energy and
Industrial Strategy (BEIS) and is regulated by Ofgem.
The licence allows us to establish and manage the smart metering
data and communications infrastructure.
Smart Metering Systems plc is listed on the AIM market of the
London Stock Exchange (SMS)
Registered Office: 48 St. Vincent Street, Glasgow G2 5TS
Registered in Scotland number: SC367563
Legal Entity Identifier number: 213800FGOUFSDPE33S71
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END
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