Addleshaw Goddard has advised SSE Energy Supply Limited ("SSEESL") on the contractual framework governing the next tranche of its smart meter rollout programme.
The forthcoming tranche will see 2.7 million smart meters rolled out from March onwards, and will see SSEESL working with two new entrants to the market; MapleCo, an independent Meter Asset Provider supporting the UK energy market, and SGN Smart, a subsidiary of SGN.
SSE is one of the UK’s leading energy companies playing a key part in the Government's ambitious programme of offering a smart meter to each of the 53 million homes and businesses in the UK by the end of 2020. It involves a massive mobilisation of engineers and installers to meet the tight deadline.
Addleshaw Goddard has been involved in many aspects of the smart meter rollout, including advising a provider of communication hubs; a licensed supplier on a framework for the supply of smart data services; and on financing the purchase of smart meters.
Advising on this latest deal from Addleshaw Goddard were Alex Clayton, Lauren Payne, Matthew Nixon and Richard Goodfellow. The team was responsible for drafting and negotiating the supply and service contract between SSEESL and MapleCo, and advising SSEESL on the subcontractor arrangements in place with its nominated meter manufacturers, working to secure the required commercial benefits and protections for the client at all levels of the commercial framework.
Alongside this, the firm's project finance team, led by Oliver Carruthers, advised SSEESL on all aspects of the funding structure applicable to the deal.
Richard Goodfellow, Partner at AG stated: "We were delighted to have advised SSE on this deal, which directly supports the government's plans to update and modernise the UK's energy system through new generation smart gas and electric meters – ultimately providing consumers with greater control over their energy consumption."