PRESS RELEASE
January 23, 2018
Energy Assets Moves into Local Energy Network Ownership
Energy Assets Group, Britain's leading independent meter asset management company, has unveiled plans for rapid expansion in the ‘final mile' electricity and gas network ownership and operator market.
Energy Assets has been awarded an Independent Gas Transporter (IGT) and Independent Distribution Network Operator (IDNO) license to own, adopt and operate gas and electricity networks and the company has launched Energy Assets Pipelines and Energy Assets Networks as independent gas and electricity network ownership entities.
Working alongside its direct labour division and Dragon Infrastructure Solutions (part of Energy Assets) the businesses are also partnering with independent utility construction contractors and residential and commercial developers to provide innovations in asset-based finance, network design, network ownership, compliance and management.
Colin Lynch, Energy Assets' Chief Executive Officer, says the move into ‘final mile' network ownership comes at a time of great opportunity for the house builder and developer sector.
"Britain stands on the brink of the biggest house building programme for generations," he said. "With the government's stated aim of creating 300,000 new homes every year, the question is - how can developers and contractors make the most of this opportunity?
"To help house builders and NERS and GIRS approved contractors deliver the most cost-effective and efficient utility networks, we've created ownership vehicles that will speed up design and approvals timescales and offer innovative asset-based finance packages. We are also one of just a handful of independent operators authorised by OFGEM for both gas and electricity network ownership and management."
As part of this drive, the Group's recently-acquired business Utility Distribution Networks Ltd, an IDNO, is being rebranded Energy Assets Networks and will be building on its established relationships with house builders and contractors to drive expansion across Britain.
Gas network ownership will be managed through Energy Assets Pipelines, a new business that will leverage the Group's extensive gas network design and asset management expertise.
Debbie Edgar, Managing Director of Energy Assets Networks, commented:
"The launch of Energy Assets network ownership continues to transform the competitive landscape in the ‘final mile' of utility connections and ownership. The flexibility that is available to IDNOs such as Energy Assets Networks creates innovative finance options for contractors and developers that the existing distribution network operators simply cannot match."
John McLuskey, who is leading Energy Assets Pipelines gas operation, said:
"With Energy Assets' proven asset management expertise and our track record in delivering process innovation, we see great opportunities opening up for our customers to speed up network construction through expert design certification, compliance support and flexible funding options, resulting in a more cost-effective utility provision."
www.energyassetsnetworks.co.uk
www.energyassetspipelines.co.uk
Ends
Media enquiries to:
Philip Colley or Colin Bridgman, Harvest
Tel: 023 9244 9655 | 07785 306378 | @harvestprman
philip.colley@harvestpr.co.uk;colin.bridgman@harvestpr.co.uk
Energy Assets Pipelines photograph attached to this press release.
Notes to Editors:
Energy Assets Group
Energy Assets is one of Britain's leading independent metering services, asset management and utility network construction companies.
The Group offers utility suppliers, developers, contractors and industrial and commercial end-users a broad spectrum of expert multi-utility metering and energy-related services.
This includes the provision and management of new and replacement meters through its Meter Asset Management division; design and construction of multi-utility networks; OFGEM approved local energy network (final mile) ownership and management; full MOP, MAP DC/DA & AMR data management services; and holistic downstream and upstream utility network engineering support, including complex meter module design and build.
The Group also enables customers to collect and analyse energy consumption data and provides a suite of control technologies to help drive energy efficiency and carbon reduction.
www.energyassets.co.uk
Independent Distribution Network Operators (IDNOs) develop, operate and maintain local electricity distribution networks. These networks are directly connected to the Distribution Network Operator (DNO) networks or indirectly to the DNO via another IDNO. IDNOs are regulated in the same way as DNOs, except the IDNO licence does not have all the conditions of the DNO licence.
Independent Gas Transporters (IGTs) develop, operate and maintain local gas transportation networks. IGT networks are directly connected to the Gas Distribution Network (GDN) via a Connected System Entry Point or indirectly to the GDN via another IGT.
An Independent Connections Provider (ICP) / Utility Infrastructure Provider (UIP) is an accredited company that is entitled to build gas and electricity networks to the specification and quality required by OFGEM.