SMS' electricity arm wins Opus and DONG contracts

RNS Number : 2484A

Smart Metering Systems PLC

19 December 2014

 



Smart Metering Systems plc

("SMS" or "the Company")

SMS' electricity division wins contracts with Opus and DONG Energy

The Board of Smart Metering Systems plc (AIM: SMS.L), 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 Utility Partnership Limited ("UPL"), acquired by SMS in April 2014, has signed two new contracts with existing customers of SMS.

The contracts are with Opus Energy ("Opus") and DONG Energy Sales Limited ("DONG Energy") and are for the provision and ownership of electricity meters and data management services. The contract with Opus is for an initial order for approximately 10,000 meters, potentially rising to approximately 30,000 meters over three years.  The contract with DONG Energy is a non-exclusive Framework Agreement for the provision of a full range of metering and data services to DONG Energy's Industrial & Commercial (I&C) electricity customers. This Framework Agreement follows the awarding of a preferred supplier contract in 2013 for the provision of metering and data services to DONG Energy's industrial and commercial ("I&C") Gas customers.

Both contracts are on comparable terms to the gas metering and data contracts previously announced and entered into between SMS and each of Opus and DONG Energy in respect of their I&C customers.

UPL has also signed a non-exclusive Framework Agreement with DONG Energy, to be one of a number of delivery partners in providing Energy Savings Opportunity Scheme (ESOS) compliance services for DONG Energy's I&C customers. UPL will provide services to DONG Energy relating to the measurement of total energy consumption, energy audits and reporting of compliance under the ESOS Scheme established by the UK Government.

These contract wins provide continuing validation of the highly-complementary nature of the SMS and UPL businesses and demonstrate the significant growth opportunities by offering a full end-to-end dual fuel service incorporating connections, metering assets installation, ownership and management, as well as data management and energy management services to the respective gas and electricity customers of SMS and UPL.

Alan Foy, Chief Executive Officer of SMS, commented:

"We are now beginning to see the benefits of the UPL acquisition for SMS's existing customers and the impact of expanding our service offering across the gas and electricity sectors to provide a fully integrated service in these markets. As a dual gas and electricity service provider, we believe we are well-positioned to enhance our existing respective client relationships and, through UPL's energy management and advisory services, to further differentiate SMS to its customers whilst delivering its core meter ownership and data services activities."

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

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™ 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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