SMS agrees to supply First Utility customers with smart meters

21st Jun 2016 15:18

(ShareCast News) - Smart Metering Systems (SMS), an integrated metering services company, has agreed to supply smart meters to customers of First Utility, an energy supplier, as part of a government programme.Over the next 18 months, SMS will gain ownership of up to 150,000 dual fuel smart meters as part of the non-exclusive agreement. The meters will be funded by SMS, in part through its revolving credit facility.The programme overseen by the Department of Energy and Climate Change aims for homes and small business in the UK to have smart or advanced meter functionality by 2020. Over 3m smart meters have been installed so far.The programme requires investment from firms to install and replace about 22m domestic gas meters and 27m electricity meters.To date, SMS has rolled out the domestic smart programme to over 1.5m homes in the UK with several suppliers.Chief executive of SMS Alan Foy said the company has a strong track record of customer service and asset management through "recent acquisitions of Trojan Ltd and CH4 Ltd who have installed over 400,000 domestic smart meters to date for energy suppliers, and Qton Ltd whose market leading meter field force installation and management software services has overseen over one million meter installs so far."Phil Gripton, chief operating officer of First Utility, added: "We are confident that working hand in hand with SMS will support First Utility's ambitions in the next phase of our Smart meter rollout."SMS bring a wealth of knowledge and experience which we believe will support the successful deployment of this technology into our customers' homes."First Utility is the UK's largest independent energy supplier and has more than 950,000 customers.SMS, established in 1995, was admitted to AIM in July 2011. Its shares rose 5.06% to 441.25p at 1559 BST.