Glasgow-based Smart Metering Systems (SMS) said it signed a “framework agreement” with First Utility as its “preferred domestic smart meter asset provider.”
First Utility currently supplies energy to about one million homes in the UK.
Under the agreement, SMS will, over the next 18 months, “gain ownership of up to 150,000 domestic dual fuel smart meters.”
SMS said the meters will be funded by SMS, supported by its revolving credit facility.
Under terms of the non-exclusive agreement, SMS will provide domestic smart meters to First Utility customers as part of a UK government programme, overseen by the Department of Energy and Climate Change, requiring domestic energy supply companies to provide customers with a smart meter in homes and small businesses across the UK by 2020.
Phil Gripton, chief operating officer of First Utility, said: “We are confident that working hand in hand with SMS will support First Utility’s ambitions in the next phase of our smart meter rollout.
“SMS bring a wealth of knowledge and experience which we believe will support the successful deployment of this technology into our customers’ homes.”
Alan Foy, chief executive of SMS, said: “We are delighted to be working with First Utility, the largest independent energy supplier in the UK in the rollout of their smart meter programme between now and the end of 2020.
“SMS is well positioned for this new market with a strong track record for customer services and asset ownership and management.
“This is exemplified by the recent acquisitions of Trojan Ltd and CH4 Ltd who have installed over 400,000 domestic smart meters to date for energy suppliers, and Qton Ltd whose market leading meter field force installation and management software services has overseen over one million meter installs so far.”