Supporting UK moves to a lower carbon economy
7 February 2015
In one of the UK’s largest infrastructure projects, 53 million gas and electricity smart meters will be installed in homes and small businesses by 2020.
The initiative aims to reduce carbon emissions by allowing consumers to monitor how much energy they are using at any given time and manage their consumption more efficiently.
It will also enable energy suppliers to be more responsive to demand and ensure there is sufficient power available during peak periods.
With the UK’s largest portfolio of smart meters, Macquarie has a significant role to play in this process and is working closely with energy suppliers as the rollout progresses.
Macquarie established a metering business in 2003, when deregulation allowed new market participants to own and operate electricity and gas meters.
Building on its decades of experience in infrastructure, its knowledge of the energy sector and its financial and advisory expertise, Macquarie is able to provide energy suppliers with cost-effective access to metering assets while reducing their ownership risks.
With the UK’s largest portfolio of smart meters, Macquarie has a significant role to play as the Government’s smart meter rollout progresses.
The business has continued to grow through acquisition and Macquarie now owns a portfolio of more than seven million traditional and smart gas and electricity meters, used by all the major UK energy suppliers.
In recent years, Macquarie has established a specialist Meter Processing Centre to refurbish meters returned from energy suppliers. This lengthens the life of meters that would otherwise be scrapped, reducing the overall cost to the supplier.
The centre processes more than 15,000 meters every month and is a differentiating feature of Macquarie’s offering.
As consumers and regulators seek greater transparency around energy use and cost, Macquarie’s market leadership in smart metering is helping energy suppliers meet this demand.