£20m contract secured by utility services business

Multi-utility infrastructure and services provider, Fulcrum Utility Services, has won a five-year smart meter exchange and management contract with energy supplier, E (Gas and Electricity) Limited.

This new agreement, worth an anticipated £20m, is a tripartite agreement between the group’s smart metering business, Fulcrum Metering Services, E and its meter asset provider (MAP), Vantage Meters (Operations).

The Sheffield-based business will become E’s meter operator (MOP) and meter asset manager (MAM), managing its portfolio of 320,000 UK meter points and delivering an expected 80,000 meter exchanges as part of E’s smart meter exchange programme.

Fulcrum will receive income from both E and from Vantage Meters, as E’s MAP.

Terry Dugdale

This new agreement further boosts Fulcrum’s portfolio of managed meter points to almost 500,000 and is expected to double the run rate of its meter exchange programme.

British-owned energy supplier, E, is part of the Bayford Group. Based in Birmingham, it specialises in tariffs for customers with prepayment meters. Vantage Meters is a MAP and funds the procurement and installation of smart meters.

Terry Dugdale, Fulcrum CEO, said: “We are delighted to announce this significant new agreement with E and Vantage Meters, which is a positive endorsement of our growing position in the Smart Metering market, and substantially grows our meter portfolio and exchange programme activity. 

“There are strong synergies between Fulcrum and E, particularly our shared focus on delivering the highest levels of service, which will be essential when we are operating on E’s behalf in customers’ homes. 

“Through our collaborative approach, we can assist E and its customers to continue to make a valuable contribution to the low carbon economy by saving energy.”

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