The Board of Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, is pleased to announce that Utility Partnership Limited ("UPL"), acquired by SMS in April 2014, has signed two new contracts with existing customers of SMS.
The contracts are with Opus Energy ("Opus") and DONG Energy Sales Limited ("DONG Energy") and are for the provision and ownership of electricity meters and data management services. The contract with Opus is for an initial order for approximately 10,000 meters, potentially rising to approximately 30,000 meters over three years. The contract with DONG Energy is a non-exclusive Framework Agreement for the provision of a full range of metering and data services to DONG Energy's Industrial & Commercial (I&C) electricity customers. This Framework Agreement follows the awarding of a preferred supplier contract in 2013 for the provision of metering and data services to DONG Energy's industrial and commercial ("I&C") Gas customers.
Both contracts are on comparable terms to the gas metering and data contracts previously announced and entered into between SMS and each of Opus and DONG Energy in respect of their I&C customers.
UPL has also signed a non-exclusive Framework Agreement with DONG Energy, to be one of a number of delivery partners in providing Energy Savings Opportunity Scheme (ESOS) compliance services for DONG Energy's I&C customers. UPL will provide services to DONG Energy relating to the measurement of total energy consumption, energy audits and reporting of compliance under the ESOS Scheme established by the UK Government.
These contract wins provide continuing validation of the highly-complementary nature of the SMS and UPL businesses and demonstrate the significant growth opportunities by offering a full end-to-end dual fuel service incorporating connections, metering assets installation, ownership and management, as well as data management and energy management services to the respective gas and electricity customers of SMS and UPL.
"We are now beginning to see the benefits of the UPL acquisition for SMS's existing customers and the impact of expanding our service offering across the gas and electricity sectors to provide a fully integrated service in these markets. As a dual gas and electricity service provider, we believe we are well-positioned to enhance our existing respective client relationships and, through UPL's energy management and advisory services, to further differentiate SMS to its customers whilst delivering its core meter ownership and data services activities."Chief Executive Officer of SMS