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    Reference: 20160114
    Release date: 19 May 2016

    Promoter – Financial Intermediary

    ACCEPTABLE CORPORATE(S)

    Location

    Description

    Framework facility to support the roll-out of portfolios of smart gas and electricity meters for a number of energy suppliers in Great Britain.

    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.

    Comments

    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.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    GBP 40 million (EUR 53 million)

    Total cost (Approximate amount)

    GBP 1665 million (EUR 2174 million)

    Environmental aspects

    The project comprises the installation of smart meters. Based on technical characteristics of the project it is unlikely that environmental impact assessment (EIA) will be required. 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 - 8/06/2016

    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