Smart Metering Systems (SMS) has today unveiled a deal to supply its gas meters to “big six” utility firm Eon, sending shares in the Glasgow-based company up as much as 9 per cent in early trading.
The deal covers both Eon’s domestic and industrial customers and is inflation-linked over the 25-year lifetime of the contract.
Alan Foy, chief executive at SMS, said: “We are absolutely delighted that a major energy supplier such as Eon has decided to partner with us.
“This contract represents further penetration of the major UK energy suppliers and is another step towards our stated aim of becoming market leader in the independent ownership of meters assets.”
SMS already has deals in place with companies including Scottish & Southern Energy, Scottish Gas-owner Centrica and ScottishPower.