The Board of Smart Metering Systems plc (AIM: SMS.L) is pleased to announce that its Electricity division has signed an agreement for the provision and ownership of electricity meters and data management services with Total Gas & Power Limited ("TGP"), a UK subsidiary of Total S.A. and an existing customer of SMS's Gas division.
The contract with TGP relates to an initial order of approximately 5,000 meters to be installed prior to April 2016, which includes the provision of data services, and SMS believes that there is capacity for this number to increase in due course.
"Following recent contract wins with Opus Energy and DONG, this new agreement with TGP is further demonstration of the success of our Electricity division and the positive impact of expanding our service offering across the gas and electricity sectors to provide a fully integrated service in these markets for our customers. This contract will provide an increase in the recurring revenue of our Electricity division, continuing the substantial growth as announced in our trading update."Chief Executive Officer of SMS
"Total Gas & Power enjoys a strong relationship with SMS's Gas division and the extension of this relationship to SMS's Electricity Division was the logical next step. This will enable us to offer the most advanced metering solutions to our gas and electricity customers, and ultimately help them to most effectively manage and reduce their energy costs."Total Gas & Power Limited
For further information:
Smart Metering Systems plc 0141 249 3850
Alan Foy, Chief Executive Officer
Glen Murray, Finance Director
Cenkos Securities plc
0131 220 6939 / 0207 397 8900
Kreab Gavin Anderson
020 7074 1800