A Glasgow-based metering services firm has signed an exclusive agreement to supply smart meters to a green energy company, as part of a government-led rollout.
Smart Metering Systems (SMS), which connects, owns, operates and maintains energy metering assets and databases, has inked the tie-up with renewable energy supplier Good Energy.
Good Energy, based in Wiltshire, has more than 250,000 customers across the UK, adding to the 2 million-plus customers already served by SMS.
Under the terms of the agreement, SMS will supply domestic smart meters as part of the UK government’s rollout programme, which requires that domestic energy supply companies provide their customers with a smart meter to use in their homes and small businesses by 2020.
SMS will provide new “SMETS 2” smart meters to monitor energy usage, which have a user-friendly advantage over the previous SMETS 1 model, as they allow customers to switch suppliers without changing meters.
The majority of smart meters soon to be installed under the main phase of the government’s rollout scheme will be SMETS 2.
Alan Foy, chief executive officer at SMS, which is quoted on the alternative investment market (AIM), said: “We are delighted to be working with Good Energy as their exclusive supplier, one of the UK’s leading suppliers of energy from renewable sources, in the rollout of their smart meter programme.
“Good Energy have over 250,000 customers across the UK, SMS is well positioned to support them with the smart meter rollout given our strong track record for customer services and asset ownership and management.”
John Maltby, Good Energy chairman, said the partnership would lead to a good user experience for the supplier’s customers.
He said: “We are pleased to announce our partnership with SMS as the chosen supplier of our new SMETS 2 meters, as part of the UK government programme to roll out smart meters to UK energy customers.
“Good Energy is focused on making sure smart meters work for the renewable energy sector.
“Partnering with SMS gives us the ability to provide our customers with a market-leading smart meter, and associated products, which will enhance user experience.”
This is the latest deal for SMS, which signed a meter rental agreement in February with Utilita Energy to provide more than 100,000 meters throughout the year.
The firm in March upped its dividend by more than a quarter despite a dip in pre-tax profits. Revenue increased by 18 per cent to £79.6 million, but profit before tax dipped 2 per cent to £18m.