We established our meter leasing business in 2003, in conjunction with Siemens Metering Services, to provide 1 million traditional domestic gas and electricity meters to British Gas in London and East Anglia in the UK, on a non-exclusive basis. We have since broadened our offering to fund smart electricity and gas meters to British Gas, RWE NPower and Scottish Power, business and residential customers. These more sophisticated meters can communicate remotely via GSM and GPRS mobile technology.
Building on our operational, market and asset expertise, we have established – and are rapidly building – a business which supplies smart meter services and associated communications infrastructure to the UK market. This involves working with multiple energy suppliers and their preferred installation and maintenance providers, including their own internal meter services companies where required.
These funding facilities are helping the UK government reach its target for reducing carbon emissions. As energy markets around the world embrace smart metering to help manage energy use – and to promote carbon reductions through smart grids and increased consumer control – we will seek to expand this model overseas, independently and with partners.