Smart Metering Systems scores double contract win

Smart Metering Systems (SMS), a company which connects and operates metering systems, has been contracted by Scottish and Southern Energy to provide meter operations services in all regions outside of Scotland and the South East of England for two years.

The contract covers the lifetime of the meters, which is around 25 years, adding around 180,000 more units to the SMS meter portfolio over the lifetime of the contract.

In addition, SMS has signed a contract with Contract Natural Gas for the provision of meters and its advanced metering ADM solution. The contract covers gas meters to be exchanged for new pulse-enabled meters installed at the premises of their customers, in addition to installation of ADM.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The contract followed successful trials of ADM, which is currently being trialled with a number of other clients.

Alan Foy, Chief Executive Officer, said: "We concluded 2011 with a meter portfolio of 254,000. These contracts represent a substantial increase in our business and significantly increase our participation in the domestic meter business as well as reinforce our position in the Industrial & Commercial market."

The share price rose 7.98% to 128.50p by 12:47.

NR