NEW jobs could be on the cards at smart meters firm Bglobal after plans for a mass roll-out of the energy reading devices were revived.

The Darwen-based business took a hit last year when its share price dropped in the wake of a government decision to delay the scheme until at least 2014.

Bosses were forced to shed 50 jobs to save £1.5million after revenues dropped from £12.46million to £10.43million following a reduction in the number of installations.

But now, the £11.7billion scheme has been revived and will see energy companies install smart meters in homes and businesses between 2014 and 2019.

Bglobal's chief executive Tim Jackson-Smith said: “Lumping these two sectors together has given the energy suppliers more time and has led to a slowdown in installation volumes.

“This was extremely frustrating and, as a result, Bglobal had to make a number of staff redundant and we have seen our share price come under pressure.”

He said the firm was now working with an 'experienced retailer' to establish a new energy supplier to enter the residential market.

He said: “This is an exciting time to be involved in this space.

"Rather than becoming beholden to the whim of government and exposing the business to the inevitable delays in the mass roll-out, Bglobal is currently working with an experienced retail player to establish a new energy supplier that will enter the residential market at scale.

“This will be a Smart from the Start proposition and the project brings together all aspects of the Group.

“Once this business starts Bglobal will need to increase its workforce in a number of areas in order to allow it to deliver products and services to the new energy supplier.”

A smart meter is a device that records gas and electricity consumption and sends figures direct to the supplier, without the need for meter readers.