What SMEG, Monaco does

SMEG (Société Monégasque de l'Électricité et du Gaz) is the historic integrated energy operator of the Principality of Monaco, founded circa 1890 and holding an exclusive concession from the Monegasque State (in force since 2009) for electricity distribution and supply, gas distribution, and public lighting. The group is jointly controlled by ENGIE (64% majority shareholder through its Energy Services division), the Monaco State (20%), and EDEV/EDF (15%), and reports a workforce of more than 550 employees across its Monaco and French operations. SMEG's headquarters — the new ten-storey 'Immeuble SMEG' (approximately 12,000 m²) inaugurated in 2025 in Fontvieille by Prince Albert II and Princess Charlène — also houses private tenants and several government departments, underlining the company's institutional position within the Principality.

The company operates across the full energy value chain via a portfolio of subsidiary brands. Core regulated activities in Monaco include electricity and gas distribution and public lighting. Energy production and infrastructure span SMEG Renouvelables (169 MW of operational solar and wind assets across several French regions, including agrivoltaic and landfill-conversion projects), SeaWergie (a pioneering thalassothermal district heating and cooling network using Mediterranean seawater thermal energy), SMA (waste collection and energy recovery feeding waste-to-energy into district heating), Smart+ (energy efficiency optimisation for local authorities and the tertiary sector), EVzen (one of Europe's leading ultra-fast EV charging networks), and Mobee (electric vehicle car-sharing). Digital infrastructure includes individual and professional customer portals (espace-particulier.smeg.energy, espace-pro.smeg.energy), the Smeg Energy mobile app, and the Smart7 research programme that surveyed 3,000 Monaco residents across 17 buildings to develop sociological energy consumer profiles.

Revenue is generated from regulated subscription/recurring electricity and gas distribution in Monaco, project-based turnkey energy transition contracts for local authorities and property owners, usage-based fees from EV charging and car-sharing, managed services for energy efficiency, and renewable generation revenues from French assets. GTM combines a regulated monopoly in Monaco with direct enterprise field sales, B2B digital portals, dedicated subsidiary brand websites, and an external-growth-driven expansion into France for renewables and electromobility infrastructure. Customer segments span individuals (residential), professionals, the Monegasque government and public institutions, and French local authorities and territories.

Name

SMEG, Monaco

Legal name

Société Monégasque de l'Électricité et de Gaz (SMEG)

Website

https://smeg.energy

Company type

Private

Founded year

1890

Operating status

Operating

Headcount range

101–250 employees

Short description

SMEG is the integrated energy operator of Monaco, holding an exclusive state concession for electricity, gas, and public lighting distribution, with diversified operations across 169 MW of renewable generation in France, thalassothermal district heating, EV charging, and waste-to-energy.

Ownership category

akta.pro rank

Product category

Integrated Energy Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Steam and Air-Conditioning Supply (221330)

SIC

Electric & Other Services Combined (4931), Gas & Other Services Combined (4932), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Regulated Residential & SMB Retail Supply (Default/Standard Offer) (EUAGABAA)

akta.pro secondary industry

EV Charging–Integrated Retail Supply (Home/SMB) (EUAGABAJ)

Keywords

• Integrated energy operations
• Electricity and gas distribution
• Renewable energy production
• Thalassothermal district heating
• EV charging networks

Headquarters

HQ city

Monaco

HQ country

Monaco

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity and gas distribution: As the historic energy operator and concession holder for Monaco, SMEG manages the distribution and supply of electricity and gas, as well as public lighting infrastructure. This regulated distribution activity forms the core of its revenue base.
2. Renewable electricity production: SMEG designs, builds, and operates renewable energy generation plants (solar and wind) with 169 MW of operational assets in France. The group invests in agrivoltaic projects and converts non-buildable land and former landfill sites into photovoltaic power plants.
3. District heating and cooling (urban networks): For more than 40 years, SMEG has been designing, constructing, and operating district heating and cooling plants using local, renewable and recovered energy sources including energy recovery from household waste and marine geothermal energy (SeaWergie).
4. Electromobility services: SMEG operates ultra-fast EV charging networks (EVzen brand) and electric vehicle car-sharing (Mobee) in Monaco, generating revenue from charging sessions and car-sharing subscriptions/trip fees.
5. Energy efficiency services: Smart+ offers energy optimization solutions for local authorities and the tertiary sector, providing consulting, technology deployment, and ongoing monitoring services.
6. Waste collection and energy recovery: Through subsidiary SMA (Société Monégasque d'Assainissement), SMEG collects and recovers waste, converting it into energy through waste-to-energy processes that feed the district heating network.
7. Turnkey financed energy solutions: SMEG proposes 360-degree turnkey solutions financed and adapted to the needs and uses of each client, covering electromobility, energy efficiency, and renewable energy production. These are bundled offerings sold to local authorities and property owners.

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

SMEG is an integrated energy operator that designs, builds, finances, and operates the full energy value chain. Its core activities include the regulated distribution and supply of electricity and gas in Monaco, the production of renewable energy from solar and wind assets across France (169 MW operational), district heating and cooling via the pioneering SeaWergie thalassothermal network and waste energy recovery, ultra-fast EV charging through EVzen, electric vehicle car-sharing via Mobee, and the Smart+ energy efficiency optimization service for buildings and territories.

Product overview

SMEG Group is an integrated energy operator offering a comprehensive portfolio of energy-related products and services. The core offering includes electricity and gas distribution (SMEG) and district heating/cooling networks (SeaWergie via thalassothermy). The portfolio extends into renewable energy production (SMEG Renovables), electromobility solutions (EVzen for charging networks, Mobee for car-sharing), energy efficiency services (Smart+), and environmental services (SMA for waste collection and recovery). Supporting digital infrastructure includes customer portals for individuals and professionals (Espace Client), a mobile app, and research programs like Smart7. Services are offered across Monaco and France, with the Group employing over 550 people and operating more than 169 MW of renewable energy assets.

Differentiator

Problem solved

Functional benefit

Brands

• SeaWergie: Thalassothermal heating and cooling network using thermal energy from the Mediterranean Sea for decarbonized district heating and air conditioning in Monaco.
• EVzen
• Smart+
• Mobee
• SMA

Products and services

• Electricity and gas distribution (SMEG core)

Quantifiable outcome

• 169 MW of operational renewable energy assets in France
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• SMA (Société Monégasque d'Assainissement)coreOthersSMA is SMEG's subsidiary responsible for waste collection and recovery operations in Monaco, including waste-to-energy conversion that feeds the district heating network. Thomas Battaglione serves as Deputy Chairman of SMA. SMA operates its own customer-facing services (sma.mc, sma-services.mc).
• Sciences Po / GIECO (scientific research partners)minorStrategic or Co-development PartnerSMEG collaborates with Sciences Po (through Stéphane La Branche, teacher-researcher and GIECO scientific coordinator) and the World Energy Council's Monaco Committee on the Smart7 research programme. This academic partnership combines sociological research with SMEG's energy consumption data to develop energy behaviour profiling methodologies.
• World Energy Council (WEC) – Monaco CommitteeminorStrategic or Co-development PartnerSMEG supports the Monaco Committee of the World Energy Council, with Thomas Battaglione serving as Chairman of the Monaco Committee. The WEC contributes to scientific studies on energy efficiency in collaboration with CNRS and GIECO, with SMEG teams participating in research activities.
• Monaco Government – Mission for Energy TransitioncoreStrategic or Co-development PartnerThe Smart7 programme was conducted under the Monaco Government's Mission for Energy Transition programme. The government-funded the equipment of 17 residential buildings with collective energy consumption measurement technology over three years, enabling SMEG's Smart+ technology to be deployed and tested at scale.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Iberdrola: Major European integrated utility with significant renewable generation and energy services operations. Comparable to SMEG on the renewable build-out and energy transition services expansion strategy across European markets.
• Veolia Environnement: French multinational with major district heating/cooling networks and waste-to-energy operations across Europe. Veolia is a direct comparable for SMEG's SeaWergie thalassothermal network, SMA waste-to-energy operations, and district heating expertise.
• ENGIE: Global integrated energy operator and 64% majority shareholder of SMEG. ENGIE operates across the full energy value chain — generation, distribution, energy services, and renewables — and is the closest strategic and operational peer, though at vastly greater scale and geographic reach.
• Enel: Italian-headquartered multinational utility with generation, distribution, and end-user energy services across Europe and Latin America. Comparable to SMEG on integrated utility model and EV charging network operations.
• EDF (Électricité de France): EDF holds a 15% stake in SMEG via its EDEV development vehicle. EDF is a major French integrated utility with generation, distribution, and energy services, providing direct comparability on regulated distribution, renewable generation, and energy efficiency operations in France.
• TotalEnergies: Integrated oil major with a growing renewables and EV charging footprint in France and Europe. Comparable to SMEG on EV charging roll-out (similar to EVzen) and renewable generation expansion in French territories.

Direct peers

• Dalkia (EDF group): Dalkia is a leading French district heating and cooling operator owned by EDF, focused on urban thermal networks and energy efficiency for buildings and territories — directly comparable to SeaWergie and Smart+ services.
• Engie Solutions / ENGIE Ineo: ENGIE's energy services and infrastructure arm delivering energy efficiency, district heating, and turnkey energy transition projects for local authorities and businesses in France. Closely comparable to SMEG's Smart+, SeaWergie, and turnkey energy solutions businesses.

Regional players

• SEMIDAO (Société d'Économie Mixte Locale type): Local mixed-economy utilities in France operate similar integrated models for territories with regulated distribution, renewable generation, and energy services. Comparable to SMEG as a regional/municipal-scale integrated energy operator structure.
• Alpiq: Swiss integrated energy company with generation, distribution, and energy services across Switzerland and Europe. Comparable to SMEG as a mid-sized integrated operator combining regulated activities with renewable and energy services businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/smeg-energy

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SMEG, Monaco