March 24, 2017: We are pleased to announce the launch of two new companies; MapleCo, an independent Meter Asset Provider (‘MAP’) supporting the GB energy market, and SGN Smart, a subsidiary of SGN Ltd (‘SGN’).
MapleCo will contribute to GB’s smart meter roll out programme as a meter asset provider, which will fund the purchase and installation of smart gas and electricity meters.
MapleCo is backed by Borealis Infrastructure, the infrastructure investment manager of OMERS (‘Borealis’), Ontario Teachers’ Pension Plan (‘Ontario Teachers’’) and SSE plc (‘SSE’).
SGN Smart will provide management services and resources to MapleCo for implementation and its on-going operation.
Making a successful start, MapleCo has reached an agreement to fund the purchase and installation of 2.7 million SSE smart meters which will be deployed from March 2017 onwards.
MapleCo looks forward to its partnership with SGN Smart, which builds on SGN’s strong track record of operational expertise. This first tranche of 2.7 million smart meters is a strong foundation to grow the MapleCo platform, in anticipation of working with multiple energy suppliers across Great Britain in the future.
Derrick Allan, Director, SGN Smart commented: “We’re very much looking forward to working with our partners to support the government’s smart meter roll out plan which will bring many benefits to GB energy customers. Going forward, we’ll be looking to attract additional meter portfolios with other energy suppliers as the market develops.”
Smart meters are part of the UK Government’s plan to update and modernise our energy system. This new generation of smart gas and electric meters will give customers greater control of their energy consumption by providing accurate and near real-time information on energy use and costs. This should help householders to lower their energy bills by becoming more energy efficient and contribute to greater security and affordability of GB energy supplies.
MapleCo is a Meter Asset Provider or ‘MAP’. It partners with GB energy suppliers to fund the purchase and installation of smart gas and electricity meters.
MapleCo is backed by three of SGN’s shareholders, Borealis, the infrastructure investment manager of OMERS, Ontario Teachers’, and UK-based SSE plc. Both OMERS, the pension plan for Ontario’s municipal employees, and Ontario Teachers’, Canada’s largest single-profession pension plan, are based in Toronto.
SSE plc is one of the UK’s leading energy companies, involved in the generation, distribution and supply of electricity and in the extraction, storage, distribution and supply of gas. Its core purpose is to provide the energy people need in a reliable and sustainable way. It supplies energy to around 8.08 million energy customers throughout Great Britain and Ireland, is frequently ranked number one for customer service and is the UK’s leading generator of electricity from renewable sources. It became a Living Wage employer in September 2013 and was accredited with the Fair Tax Mark in October 2014.
About SGN Smart
SGN Smart is a subsidiary of UK gas distribution network company SGN Ltd, providing management services and resources to MapleCo through a Managed Services Agreement, and is responsible for its implementation and on-going operation.
For more information on SGN Smart visit our website – www.sgnsmart.co.uk
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