Bglobal meters on

ENERGY metering company Bglobal has found alternative meter funding arrangements, following the moratorium imposed on new business by one of its primary funders for meter rental agreements in mid-December.

The Blackburn-based group said the new arrangement would allow it to fund the “significant part” of anticipated installations in the short-term.

In a statement to the stock market, the AIM-listed company said: “The group has entered into an agreement with a third party that enables the continued roll out of the group’s smart meter installation programme and the group has received its first payment under the these new arrangements.”

On December 16, the company, which  installs smart meters for energy companies such as npower, said it had fallen further into the red after a “difficult” six months but added that a government mandate would spark a bright future for the group.

In the six months to September 30, losses before tax increased from £1.6m to £2m, while turnover was up to £2.7m from £2.2m last time.