Reference: 20150086
Release date: 2 September 2015

Promoter – Financial Intermediary

ACCEPTABLE CORPORATE(S)

Location

Description

Installing smart gas and electricity meters for a major energy supplier in the United Kingdom

Objectives

The installation of smart meters and the development of remote control capabilities will allow remote readings, near real-time consumption information and better management of the network. The project aims at improving efficiency of the gas and electricity distribution systems as well as customer information and awareness.

Sector(s)

  • Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

GBP 360 million (EUR 515 million)

Total cost (Approximate amount)

GBP 963 million (EUR 1378 million)

Environmental aspects

The project comprises the installation of smart meters. The need for an environmental impact assessment (EIA) in accordance with Directive 2011/92/EU is unlikely. The main potential impact on the environment is from the disposal of the old meters.

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement.

Status

Signed - 2/12/2015

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

United Kingdom Energy