In the UK, Trojan Utilities has in December, 2015 announced that it has secured a contract with energy retail solutions provider,OVO Energy to deliver its smart metering solution.

According to a company statement, the £5.5m worth contract will include Trojan Utilities improving gas and electric meters for OVO Energy’s consumers.

OVO Energy believes the three year contract will allow it to gain more market share of the supplier market.

smart metering:OVO Energy
OVO Energy hopes its three year contact with Trojan Utilities will assist it in meeting its smart meter installation targets in line with the UK government's mandate

Commenting on the signing of the contract,Managing Director of OVO In-Home Technology, Melissa Gander said, “ The demand for Smart meter technology is at an all time high and we are committed to delivering the best solutions for our customers. This partnership with Trojan means we can now install Smart technology into more of our customers’ homes than ever before."

Since establishment in 2011, Trojan Utilities has to date installed over 200,000 Smart meters for energy suppliers and currently has a capacity to install around 3,000 units in a week.

The two expect will complete installation of some 250.000 units by end of January 2016 as the national roll-out of smart meters continues to pick up pace across 26 million households.

Smart metering funding in the UK

The signing of the contract follows an earlier announcement by smart meter provider Calvin Capital that it has raised GBP1 billion for funding the rollout of 7 million units.

The funding was backed by Calvin Capital's shareholder Infracapital in collaboration with six other commercial banks including Barclays, European Investment Bank (EIB) and Sumitomo Mitsui Banking Corporation.

The EIB will provide GBP 360 million for the smart meter project to reduce energy use and help consumers save money as part of the nationwide rollout of 53 million smart gas and electric meters.

Commenting on the development Jonathan Taylor, vice president of the European Investment Bank, said,"...This programme provides a benchmark for similar smart meter schemes across Europe in the future.”

This is the largest project so far to be backed by the European Fund for Strategic Investments (EFSI) established earlier this year by the European Investment Bank and the European Commission to enable increased lending for projects in sectors such as renewable energy, digital infrastructure, transport and R&D.