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
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
