London, 06 May 2011
Macquarie’s Corporate and Asset Finance Group (Macquarie), has executed a contract with British Gas, part of Centrica PLC, to finance the purchase and installation of smart and traditional residential gas and electricity meters on a national basis in the UK. The contract replaces part of British Gas’ existing meter funding programme and significantly expands Macquarie’s relationship with the largest energy supplier in the UK.
Macquarie, through its subsidiary Capital Meters, has been a long term funder of British Gas in the deregulated metering market in the UK since 2003. The selection of Macquarie as a preferred funder for meter asset provision (MAP) consolidates Macquarie’s position as one of the leading smart meter funders and asset financiers in the United Kingdom.
John Wilson, Executive Director, Macquarie Group said, “We are pleased to be a key funder for such a critical project for British Gas. Securing our position as a primary funder for this programme demonstrates Macquarie’s ongoing commitment to provide innovative energy and meter funding solutions for UK energy companies.”