SMS to install smart meters for two UK energy suppliers
The meters, which will be funded by SMS’ current revolving credit facility, increased from £105m to £150m in March 2016, are to be installed as part of the government’s smart meter programme, which requires every domestic energy supply company to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.
Angela Beardsmore, COO of Economy Energy, believes it is an exciting time for the company as it embarks on “the biggest metering project in our history.”
“We’re confident that SMS has the expertise and experience to help us deliver our ambitious plan. We’ve already started to roll out our smart meter programme as part of a trial with a social housing provider, and SMS has been a key partner in this project,” she said.
“Smart meters will help change the way people use their energy forever, so we’re pleased to be working with a provider that is able to support the installation of this developing technology and help us continue to achieve our aim of delivering a great customer service.”
SMS are also set to install 50,000 dual fuel systems over the next 12 months for renewable energy supplier Ecotricity, funded by SMS’ current banking facility.
Dale Vince, founder and CEO of Ecotricity, emphasises how the move is the “kick-off” for its smart meter program, saying that it’s “exciting and ambitious.”
“Within two years, we hope to have installed smart meters for all of our customers, putting us right at the forefront of the industry. Smart meters are key to moving the energy industry into the 21st century. We see them at the heart of a Smart Home and a Smart Grid – and an energy system that’s customer and environment centric,” he said.
“Our customers will have a much better understanding of how much energy they are using and when, with access to real time data via the Ecotricity app. We’re looking forward to the end of estimated bills and the whole meter reading charade, and accounts that are always bang up-to-date – no sudden surprises either way.
“Over the same time period, we'll implement a series of energy saving and Smart Home initiatives – not the least of which is the Black Box, our own energy storage device that commences trials later this year, and which we expect to be a big part of the Smart Home concept.”
Alan Foy, Chief Executive Officer of SMS, states that the company will continue to pursue opportunities for the rollout of domestic smart meters between now and 2020.
“SMS is well positioned for this new market with a strong track record building out just under 1 million meters and data assets to date from our order book in the Industrial and Commercial (I&C) and domestic markets,” he said.
“We are delighted to be working with Economy Energy who is part of the fastest-growing segment of the retail energy supply market.
“Ecotricity represents an exciting and fast-growing segment of the independent retail energy supply market that is all looking to differentiate themselves from the wider market through the introduction of smart technology to their customers.”
