Ontario Teachers’ and OMERS Back British Smart Energy Companies

Power LinesThe Ontario Teachers’ Pension Plan, the Ontario Municipal Employees Retirement System’s infrastructure investment manager Borealis Infrastructure and Britain-based energy company SSE are backing the launch of two new companies in the British energy market.

MapleCo, an independent meter asset provider, will contribute to Britain’s smart meter rollout program, which is aiming to fund the purchase and installation of smart gas and electricity meters. SGN Smart, a subsidiary of British gas distribution network company SGN Ltd., will provide management services and resources to MapleCo for implementation and its ongoing operation.

Smart meters are part of the British government’s plan to update and modernize its energy system, giving consumers greater control of their energy consumption and subsequently helping them lower their energy bills.

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.