Smart Metering Systems Signs Installation Agreement With First Utility

LONDON (Alliance News) - Smart Metering Systems PLC on Thursday said it has signed a three-year ...

Alliance News 18 October, 2018 | 3:26PM
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LONDON (Alliance News) - Smart Metering Systems PLC on Thursday said it has signed a three-year exclusive installation agreement with energy supplier First Utility Ltd.

SMS will install domestic smart meters on First Utility's behalf, as part of the UK government's programme which requires utility companies to provide all homes and small businesses with these meters by 2020.

The exclusive agreement is valid until the end of 2021 and will give SMS initial access to as many as one million meter points to exchange, fund, and install the smart meters.

"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," said SMS.

Shares were 2.6% higher Thursday afternoon at 548 pence each.

By Anna Farley; annafarley@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Smart Metering Systems PLC 533.50 GBX -0.47 -

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