SMS signs contract with British Gas Business

RNS Number : 0424N

Smart Metering Systems PLC

23 July 2014

 



23 July 2014

Smart Metering Systems plc

("SMS" or "the Company")

SMS signs contract with British Gas Business for gas meter exchanges and delivery of automated meter reads

The Board of Smart Metering Systems plc (AIM: SMS.L), is delighted to announce that, following a tender process by British Gas Business (BGB), SMS has been awarded a new contract to install and maintain around 50% of BGB's portfolio of gas meter points.

Under the terms of the contract, SMS will replace BGB's existing diaphragm and pulse output gas meters with Elster meters, which have an integrated data communications system.  SMS will also install its ADM™ solution for BGB's customers to  both existing and exchanged rotary and turbine gas meters. The programme roll out is anticipated to complete by 2017 and, once installed, the meters will form part of SMS's long term index linked contracts.

Alan Foy, CEO of SMS plc, commented:

"We are delighted that BGB has chosen SMS to undertake this meter exchange programme over the next three years. The signing of this contract is another step towards our ambition to become market leader in the independent ownership of I&C meters and in the provision of automated meter reading solutions for our customers."

Matt Idle, Director of Customer Operations, British Gas commented:

"Since 2008 we have made significant efforts to ensure that all of our customers could benefit from advanced metering, and this agreement is the result of many years of development. The Elster meters installed and maintained by SMS will enable our corporate customers to benefit from innovative technology, which will make it easier for them to control and reduce their energy costs."

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 / 020 7397 8900
Neil McDonald
Beth McKiernan
Kreab Gavin Anderson	020 7074 1800
Chris Philipsborn
Natalie Biasin
British Gas	07789 575 915

Katie Alloway

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

About British Gas

British Gas is one of the UK's leading energy suppliers, and serves around 11 million homes in Britain - nearly half the country's homes - as well as providing energy to one million UK businesses. British Gas provides value for money, dedicated customer service, innovative energy solutions and high quality Home Services expertise. Find out more at www.britishgas.co.uk.

 

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