Smart Metering Systems (AIM: SMS) – New contract win with E.ON but talk about pricey!
Smart Metering Systems has announced a new non-exclusive contract with E.ON Energy Solutions for gas metering services including the provision, installation and maintenance of gas metering and other related equipment.
The good news just keeps on coming for this AIM high flyer! E.ON is one of the largest gas suppliers in the UK and the new contract covers domestic and industrial and commercial (I&C) meter portfolios for the lifetime of the meters (approximately 25 years). It is index linked and similar to the contractual provisions already in place for SMS’s current meter portfolio. The house broker commented that as at 31st December 2011 E.ON had in the region of 3.04m million domestic gas customer accounts from a total of 7.6m total domestic accounts for both electricity and gas in the…