Services outfit UXC (ASX:UXC) has picked up two new smart meter contracts via subsidiary Skilltech Consulting Services, worth $28.65 million.
The first, with Energy Australia worth $14.4 million over a period of up to four years, will result in the delivery of cyclic and non-cyclic electricity meter reading for homes and businesses in Sydney, Central Coast and the Hunter regions.
The second, with Integral Energy, is worth $14.25 million over a period of up to five years, and will involve the delivery of cyclic and non-cyclic electricity meter reading for homes and businesses in western Sydney and the Illawarra.
According to UXC, the deals are of significance as they see Skilltech now supplying 100 per cent of the outsourced electricity meter reading in the Sydney region.
In addition Skilltech is now supplying more than 70 per cent of the available meter reading market in NSW across gas, electricity and water.
The wins are also important for the wider UXC business, which in February announced that its Field Solutions Group had taken a hit of $16.8 million, largely due to the collapse of the market price for Renewable Energy Certificates and the cessation of the Federal Government’s home insulation scheme.
The company also announced the launch of a strategic review to examine ways to unlock greater shareholder value for the company.