Telefonica Is Awarded Record U.K.Smart-Meter Data Deal

Telefonica SA (TEF) signed two contracts valued at 1.5 billion pounds ($2.4 billion) to transmit data from U.K. power and gas meters, a record deal for the industry.

Telefonica signed the 15-year agreements today with Capita Plc, just more than a month after the government’s Department of Energy and Climate Change said the Madrid-based company was the preferred bidder, according to an e-mailed statement.

The company’s British unit will build networks transmitting information about usage from power and gas meters in Wales and southern and central England to data storage sites.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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