Smart Metering Systems 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 industrial and commercial meters and run rates are being established.
The company declined to comment on the value of the contract, however, Alan Foy, Chief Executive Officer of SMS, did say: "We are absolutely delighted that a major energy supplier such as E.ON Energy Solutions Ltd has decided to partner with us.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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."
CM
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
