SMS signs contract with E.ON Energy Solutions Ltd

RNS Number : 3726Q

Smart Metering Systems PLC

06 November 2012

 



6 November, 2012

Smart Metering Systems plc

('SMS')

SMS signs contract with E.ON Energy Solutions Ltd

The Board of Smart Metering Systems plc (AIM: SMS.L), is delighted to announce that SMS has signed a new non-exclusive contract with E.ON Energy Solutions Ltd for gas metering services including the provision installation and maintenance of gas metering and other ancillary equipment.

The contract covers the lifetime of the meters (approximately 25 years) and is index linked, similar to the contractual provisions already in place for SMS's current meter portfolio. The contract covers domestic and I&C meters and run rates are being established.

Alan Foy, CEO of SMS, commented:

"We are absolutely delighted that a major energy supplier such as E.ON Energy Solutions Ltd has decided to partner with us. This contract represents further penetration of the major UK energy suppliers and is another step towards our stated aim of becoming market leader in the independent ownership of meters assets.

For Further Information:

Smart Metering Systems plc	0141 249 3850
Alan Foy, Chief Executive Officer
Glen Murray, Finance Director
Cenkos Securities	0131 220 6939 / 0207 397 8900
Ken Fleming
Jon Fitzpatrick
Kreab Gavin Anderson	020 7074 1800
Ken Cronin
Anthony Hughes

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. 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 the ADM™ solution

The ADM™ is a cost effective and reliable data collection and smart metering solution developed by SMS and principally aimed at the I&C market. The ADM™ solution provides half hourly gas consumption data by access to a secure web portal or by daily e-mail or by secure data file transfer, depending on the requirements of the customer. European patent approval for the ADM™  solution and safety certification for operation in the most hazardous environments has been granted. The key features of ADM™ are that it does not require pre-installation programming, and is very much 'plug and play', resulting in reduced costs to the gas suppliers with increase data reliability over existing manual meter read services.

 

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