SMS and Shell Energy extend smart meter exclusivity agreement
Smart energy infrastructure company, SMS plc, has extended its exclusivity agreement with Shell Energy for the installation of the energy supplier’s domestic smart meter portfolio.
The exclusivity deal, which includes the provision of asset funding for the meters, was originally agreed in October 2018. It now extends the SMS and Shell Energy partnership until December 2025, coinciding with the Government’s smart meter rollout deadline.
Having initially served as the company’s Meter Asset Provider (MAP) from 2016 – preceding Shell’s acquisition of First Utility and the energy supplier’s subsequent rebrand as Shell Energy – SMS has since gone on to become its fully-integrated smart meter installer and operator.
Earlier this year, SMS – which has so far installed over 1.4m smart meters in UK homes – announced c.900,000 of new meter contract wins, increasing its contracted order pipeline for UK energy suppliers to 2.75 million smart meters (as at 30 June 2021).
Commenting on the renewed deal, Alan Foy, chief executive officer of SMS, said:
“The extension of the exclusivity agreement is a testament to the strength of our long-term relationship with Shell Energy, underpinned by our well established end-to-end integrated model.”
Tony Keeling, chief executive officer, Shell Energy, added:
“Shell has significantly grown its market share in the UK retail energy supply in recent months. The extension of our partnership with SMS is key to us safely continuing to deliver the smart meter roll-out programme – a critical enabler to digitalise and decarbonise the UK energy system.”
- © Ocean Media Group