Smart Metering Systems extends exclusivity agreement with Shell Energy Retail

Energy infrastructure company Smart Metering Systems has extended its exclusivity agreement with Shell Energy Retail for the installation and funding of smart meters until December 2025.

Smart Metering chief executive Alan Foy stated the extension of the exclusivity agreement was a "testament to the strength" of its long-term relationship with Shell, underpinned by its "well established" end-to-end integrated model.

Shell Energy Retail CEO added that with the company significantly growing its UK market share in recent months, the extension of its partnership with SMS was "key" to it safely continuing to deliver the smart meter roll-out programme - "a critical enabler to digitalise and decarbonise the UK energy system".

As of 0900 GMT, Smart Metering shares were up 1.13% at 805.0p.