Smart Metering signs new agreement with Bristol Energy

AIM-listed Smart Metering Systems has signed an agreement with Bristol Energy to provide services as an integrated domestic smart meter installer and meter asset provider.

Under the terms of the agreement, SMS will have initial access to a minimum 100,000 meter points to exchange, fund and install domestic smart meters on behalf of Bristol Energy.

This forms part of the UK Government programme, overseen by the Department of Business, Energy and Industrial Strategy, 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.

Chief executive officer Alan Foy said: "It gives us great pleasure to have added Bristol Energy to our portfolio of contracted energy suppliers for the smart meter rollout programme. It is fantastic to support Bristol Energy who are a force for social good as well as a challenger energy supplier.

"SMS are well positioned and committed to lead the delivery of benefits that smart meters bring to their customers."

At 1100 BST, the shares were up 3.2% to 546p.