SMS signs I & C contract with Total Gas & Power

RNS Number : 2087F

Smart Metering Systems PLC

13 June 2012

 



13 June 2012

Smart Metering Systems plc

("SMS")

SMS signs I & C contract with Total Gas & Power Limited for meter exchanges and ADM™ roll out

The Board of Smart Metering Systems plc (AIM: SMS.L), is delighted to announce that SMS has signed a major new contract with Total Gas & Power Limited (TGP), a UK subsidiary of  Total SA, for the provision of gas meters and SMS's advanced automated meter reading solution, ADM™, for its industrial and commercial (I & C ) customers.

I & C meters range from small domestic sized meters to very large meters and therefore value to SMS per meter differs markedly across the range. The contract with TGP is for approximately 15,000 I & C meters with ADM™ devices over 3 years. Longer term average run rates are being established; however, initial run rates suggest that the equivalent number of domestic meters would be approximately 250,000 in value to SMS.

Once installed, the meters will be included in SMS's existing index linked contracts governing the recurring annual rental from the gas meter and ADM™  solution.

Up to 2014, small I & C metered premises, estimated by SMS at over 1.2m , have the opportunity to opt for an advanced metering solution such as the ADM™ solution or alternatively they can be included in the government's proposed domestic roll out of smart meters. The large I & C market which has to move to an advanced metering solution by 2014 is further estimated at 378,000 meters. The Board believes that both market segments will find the ADM™ solution attractive, based on its competitive price and ease of installation.

Alan Foy, CEO of Smart Metering Systems plc, commented:

"We are absolutely delighted that TGP, the second largest gas supplier in the UK's I & C market, has decided to adopt the ADM™ solution. This is our second I & C contract to be announced in recent months and marks a step change in the adoption  of the ADM™ solution as an industry standard.  The ADM™ continues to trial very successfully with other I & C gas suppliers and energy brokers and we anticipate announcing further progress in due course. "

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™ arethat 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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