SMS acquires I&C electric meter portfolio from energy supplier
The portfolio of 15,000 meters will reinforce SMS’s leading position in the industrial and commercial half-hourly (HH) metering space
SMS has today completed an acquisition of metering and data assets from a large energy supplier. The acquired portfolio serves approximately 12,000 industrial and commercial (I&C) customers in the UK with metering, data collection, and data aggregation solutions.
The acquisition, which allows SMS to take ownership of more than 15,000 half-hourly (HH) electricity meters as well as data service contracts associated with over 20,000 meters, reinforces and expands the company’s position in the I&C HH metering space. SMS will provide continuity of expert metering and data services to all new customers gained as a result of the transaction.
Headquartered in Glasgow and employing a nationwide engineering workforce, SMS currently has 3.81 million meter and data assets under its management, including over 1.4 million smart meters it has installed as part of the Government-mandated rollout.
“This acquisition is testament to the strength of SMS’s data platform that we have built over the past 25 years, enabling us to consolidate such value accretive opportunities and further leverage our well-established technology and business infrastructure.
“Half-hourly measurement and settlement of electricity consumption, made possible through smart meters, will play an increasingly important role in Britain’s low-carbon revolution over coming years. It will allow grid operators to better match renewable electricity generation with demand, whilst crucially supporting businesses and homes to manage their energy more intelligently. I’m delighted therefore to reinforce our offering to the I&C market in this area.”
Chief Operating Officer