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Fulcrum Utility Services wins five-year contract worth £20m from E
StockMarketWire.com
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Infrastructure and services provider Fulcrum Utility Services said that it had won a five-year smart meter exchange and management contract, worth an anticipated £20 million, with energy supplier, E.
This new agreement, a tripartite agreement between the group's smart metering business, Fulcrum Metering Services, E and its Meter Asset Provider, Vantage Meters, was expected to deliver total revenues of £20 million over the five-year period.
Under the agreement, Fulcrum would become E's Meter Operator and Meter Asset Manager, managing its portfolio of 320,000 UK meter points and delivering an expected 80,000 meter exchanges as part of E's Smart Meter exchange programme.
This new agreement 'takes Fulcrum's portfolio of managed meter points to almost 500,000 and is expected to double the run rate of its meter exchange programme,' the company said.
Story provided by StockMarketWire.com
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