We work with leading partners in the UK to enable energy retailers’ smart obligations…
Foresight Metering Limited (FML) has displayed remarkable growth since the Company’s inception in 2009 and welcomes the market opportunity available as we look ahead to the future.
The smart meter market – the next generation of gas and electricity meters
The UK Government is unrelenting in its pursuit of the benefits estimated from the deployment of 54 million smart meters to 30 million premises by 2020, in line with the Energy Act of 2008. In turn, energy retailers are all too aware of the challenges and costs the Government’s ambition brings.
With ten years of proven operation in the smart metering market, over 375,000 meters under long term rental agreements and contracts with over 90 UK energy retailers, FML is extremely well placed in this market to help energy retailers address their commitments.
The benefits of smart meters include:
- Smart meters provide a near real-time display of energy usage
- Eliminates manual meter readings, and the associated costs and inconveniences
- More accurate billing for end-users, allowing more control
- Smart meters can provide more data on energy demand patterns to ensure supply and demand aspects of the National Grid are better understood and better managed
- They are the first step in establishing a ‘smart grid’ for a smarter energy future
FML operates principally, but not exclusively, within the independent challenger sector, which has grown substantially over the last 5 years from a market share of below 5% to over 25% today. This is expected to continue over the next 5 years with some market consolidation.