Smart Metering Systems PLC Signs I & C contract With Total Gas & Power Limited For Meter Exchanges And ADM Roll Out

Smart Metering Systems PLC announced that it has signed a new contract with Total Gas & Power Limited (TGP), a UK subsidiary of Total SA, for the provision of gas meters and SMS's advanced automated meter reading solution, ADM, for its industrial and commercial (I & C ) customers. The contract with TGP is for approximately 15,000 I & C meters with ADM devices over 3 years. Longer term average run rates are being established; however, initial run rates suggest that the equivalent number of domestic meters would be approximately 250,000 in value to SMS. Once installed, the meters will be included in SMS's existing index linked contracts governing the recurring annual rental from the gas meter and ADM solution.