Smart meter company Landis+Gyr has signed a £600m ($955m) deal with British Gas to provide 16 million meters to UK homes.

Switzerland-headquartered Landis+Gyr claims it is “the largest deal of its kind worldwide” and expects it to result in a doubling of its British workforce.

The UK government plans to have a smart meter rollout in full swing by 2020, and as one of the country’s ‘big six’ utilities, British Gas will have a key role to play in this deployment.

The deal announced today means Landis+Gyr will provide the majority of smart meters supplied by British Gas, which is owned by Centrica.

Landis+Gyr chief executive Andreas Umbach said: “We’ve been working with British Gas for the last three years to develop smart meters for its customers. This is the largest deal of its kind worldwide and sets a new industry standard for working in partnership. 

“It allows us to achieve significant economies of scale in meter production, to expand our UK operations and to further establish the UK as a global centre of smart energy excellence.

As a result of the deal, Landis+Gyr expects to double its 600-strong UK workforce and extend its manufacturing facilities.

British Gas managing director Chris Weston said the deal “means we can provide smart meters cost-effectively to our customers, and bring them the benefits of this innovative technology as soon as possible”.

He added: “Smart meters herald a new era for energy customers, bringing a transformation in the way they can manage energy use in their homes and businesses.”