17/01/2019

New Domestic smart meter contract win - Octopus Energy Limited

Smart Metering Systems plc (AIM: SMS.L) ("SMS"), the integrated metering services company that connects (installs), owns, operates and maintains UK metering assets, is pleased to announce that it has signed a meter rental agreement with Octopus Energy Limited ("Octopus Energy") to supply a minimum of 200,000 new SMETS2 meters.

This forms part of the UK Government programme, overseen by the Department of Business, Energy and Industrial Strategy (BEIS), requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.

SMETS 2 meters are the next generation of smart meters and will deliver a wide range of improvements, including: interoperability - these devices enable seamless switching between energy suppliers by connecting with the Data Communications Company (DCC); maintain and extend the highest standard of security for householder data and will facilitate the connection of all types of home renewable and microgeneration technology onto the grid, supporting a cleaner, greener UK.

"We are delighted to be working with Octopus Energy, a supplier of 100% green electricity. Octopus Energy is backed by the Octopus Group, which is a large investor in renewable generation internationally and the United Kingdom's largest investor in solar power. SMS, like Octopus Energy, are committed to leading the smart energy revolution and SMS looks forward to bringing the benefits of smart meters to Octopus Energy's customers".

Alan Foy Chief Executive Officer

"The size of this partnership is a result of Octopus Energy's tremendous growth and ambition. Our success is driven by our unique technology and commitment to customer service, as demonstrated by Octopus being the only energy supplier recommended by Which?"

Stuart Jackson Chief Financial Officer of Octopus Energy

For further information:

Smart Metering Systems plc
Alan Foy, Chief Executive Officer
David Thompson, Chief Financial Officer
Craig McGinn, Company Secretary
Dilip Kejriwal, Investor Relations
0141 249 3850

Cenkos Securities plc
Neil McDonald
Beth Mckiernan
0131 220 6939 / 0207 397 8900

Kreab
Matthew Jervois
020 7074 1800

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