Our integrated service business model
There are over 30 million premises in the UK representing c.53 million gas and electricity meters that will be changed during the smart meter programme, of which approximately 14.9 million were exchanged by December 2018. The non-domestic smart meter rollout (of which just over a million devices have been installed) covers approximately 2 million sites. Every installed electricity smart meter will also require data services for the purposes of settlement and provides additional energy service opportunities.
Our complete energy service is supported by our in-house engineering and expert consultancy workforce across the UK. This extensive industry knowledge allows us to make smart decisions about all aspects of our customers’ projects.
We have significant IT software and data security capabilities and capacity and the ability to develop new applications and technologies to the ongoing benefit of our customers.
Enjoying long-standing multi-level relationships with energy suppliers and the UK Industrial and Commercial sector, the enduring partnerships we maintain with our customers are testament to our unrivalled support, extensive industry knowledge and commitment to providing successful, innovative and forward-thinking energy solutions.
We have built one of the largest independent and national dual fuel metering installation services, enabling energy suppliers to achieve their mandated obligations under the government’s smart meter programme. We also design, install and manage utility connections and energy infrastructure.
Investing in meter and energy infrastructure assets and providing remote reading solutions and other data
services, focusing on increasing growth rate of meter assets portfolio and driving recurring revenue.
We have an extensive team of experts who provide a full range of energy services, including risk management, bureau, energy efficiency, carbon reduction, generation and storage.
Our business is supported by:
We maintain strong relationships with our banking business partners which work with us to facilitate our growth plans. On 21 December 2018 a new banking facility was signed, providing the business access to £420m over the next five years. This provides certainty and flexibility by providing significant additional financial capacity to take advantage of further opportunities in the UK domestic smart meter rollout.
Acquisition of UPL in 2014 allowed us to offer a dual fuel solution, with the integration of electric meter asset installation, ownership and data business services. Acquisitions in 2016 allowed us to obtain control over the installation element of asset ownership, including end-to-end information technology infrastructure and supporting technology innovation, and to invest in growth through additional engineering capacity.
Our business creates value:
Our ability to provide both meter installation services and asset provision and management is a critical part of our value proposition.
Growing revenue and profits, enabling us to pay a progressive dividend while retaining funds to invest for future growth.
Provide an end-to-end service in all aspects of utility infrastructure, smart metering and energy management. This breadth of service makes us unique in our industry, with our expertise allowing our customers to have confidence that we will deliver an appropriate solution.
Interesting and challenging careers in a growing business that offers them the chance to develop and reach their potential