15th Jan 2016 08:47
LONDON (Alliance News) - Smart Metering Systems PLC on Friday said it has secured five domestic smart meter framework deals with independent energy companies.
The deals have been signed with RHE, Green Energy, Flow Energy, Spark Energy and Our Power.
Under the terms of the deal, Smart Metering Systems will provide domestic smart meters as part of a scheme run by the UK Department of Energy and Climate Change which requires all domestic energy companies to provide smart meters to their home and business customers across the UK by 2020.
No financial details on the contracts were disclosed.
"We are delighted to be working with these new independent suppliers who are part of the fastest-growing segment of the retail energy supply and currently supply 386,000 homes across the UK," said Alan Foy, Smart Metering Systems' chief executive.
"We continue to pursue other opportunities for the rollout of domestic smarter meters between now and 2020," he added.
Shares in Smart Metering Systems were up 2.8% on Friday morning to 330.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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