What we do...
Delivering major benefits to
our metering clients
Energy suppliers are responsible for supplying, installing and maintaining certified gas and electricity meters in the homes and premises of their customers across the country. Calvin works in partnership with some of the largest energy suppliers to provide funding for major metering programmes. The funding is comprised of shareholder equity (from Kohlberg Kravis Roberts) and debt from a syndicate of banks.
Under this arrangement we fund the procurement of the meters and pay for their installation. We then own and manage the assets and the energy
suppliers use them. We recover our investment by levying daily usage charges on the energy suppliers.
Looking to the future, the vast majority of meters are traditional types which are limited in terms of their functionality and ability to provide useful energy consumption information to customers. In order to comply with EU legislation and to encourage reduced energy consumption the Government has recently mandated that energy suppliers will exchange all such traditional meters in domestic and small business premises with smart meters by 2020. They have established the Smart Meter Implementation Programme (SMIP) to facilitate this transformation and the successful roll-out of circa 53 million smart meters across Great Britain.
The scale of the replacement task is massive with an associated capital investment of circa £11bn. More than ever before, energy suppliers will need the very best professional support. Calvin is very well placed to provide this support and to date has funded circa. 500K smart meters. We also have relationships with key stakeholders in the metering market and continue to leverage these relationships to deliver competitive Funding and robust MAP Services on behalf of our clients.