In a world of high energy prices — and one where every firm and household wants to become more eco-efficient, and the push for electric cars and charging infrastructure is gaining momentum — Smart Metering Systems (SMS) looks a good bet.
The £930 million business installs, owns and manages smart meters for customers including the energy giants, housebuilders, retailers and social housing providers. SMS also works on greener energy projects, such as converting Travelodge’s hotel estate to LED lighting, creating grid-scale batteries to store green energy, and installing electric vehicle (EV) charging points.
It is also inflation-proof: meter-rental and data fees both benefit from being set in line with the retail price index, which should negate higher interest costs.
The shares, however, have not performed: