Utility specialist boosts presence in the smart meter market
Utility firm Fulcrum has strengthened its position in the smart metering market after securing agreements with energy suppliers, taking its portfolio of managed UK meter points to more than 100,000.
The listed Sheffield-based company has been appointed as Meter Operator (MOP) and Meter Asset Manager (MAM) by energy suppliers Square 1 Energy, Symbio Energy, Homeshift and Neo Energy.
Fulcrum says these latest contracts demonstrate the success of its strategy to supply a service that supports new market entrants and growing energy suppliers, as well as established suppliers.
And the company adds that it has seen a “significant upturn” in direct approaches from this part of the market for its MOP, MAM and meter exchange management services.
The agreements with Square 1 Energy, Symbio and Neo Energy will see Fulcrum operate as their MOP and MAM for a period of three years, with an 18-month agreement with Homeshift.
Fulcrum launched its Smart Metering business in 2019 after achieving both MAM and MOP accreditations.
Tim Houtby, director of Smart Metering at Fulcrum, said: “We are pleased to secure these latest agreements in the Smart Meter sector as we increase our capacity and capabilities to support energy suppliers across the UK.
“Despite the challenging environment surrounding the COVID-19 pandemic, we have maintained momentum with our Smart Metering operations and been presented with new opportunities thanks to the reputation for excellence that we are building in the sector.
cr“The customer focused, flexible and bespoke service we are able to offer individual energy suppliers is helping position Fulcrum as the partner of choice for new entrants to the market and those expanding their metering exchange and management programmes.
“These new agreements, along with our established partnerships, are indicative of the progress we are making in our strategy to build relationships with energy suppliers, through the application of a supportive and collaborative ethos that supports the UK’s sustainable energy future.”
This is good news for the firm which of late has been making headlines for its Board’s ongoing war of words with investment group Harwood Group, which is seeking to gain a 29.9% stake in the company and had previously launched a £14m tend offer.
