Foresight Metering Limited (FML) is fundamentally reducing the cost and increasing the flexibility of smart meter asset provision and management for energy retailers and their customers.
At FML, our strategy is underpinned by strong partnerships founded on providing flexible, tailored services that represent a low cost of capital, are low risk and are trusted by the market.
Unlike the traditional Meter Asset Providers (MAP) where finance is sourced from banks, our innovative funding approach allows us to secure you the lowest possible MAP costs, in turn improving your smart investment case with no increase in your risk profile. We have a market leading offer that can provide a better and more cost-effective MAP solution that will benefit you and your end customers.
Creating Strong Partnerships
Targeting the growing independent, challenger brands in the UK who have circa 25% market share at present
Tailored solution for each energy supplier to maximise impact of meter deployment, as an enabler to other technology services
Differentiated offering – we provide a MAP only offering through to full partnership solutions, bringing key parties such as meter manufacturers and installers together
Built In Flexibility
No minimum volume commitments giving energy retailers the flexibility to rollout smart meters at a pace that is in the best interest of energy retailers and customers alike
Service flexibility – providing a core solution that can flex with optional services based on specific needs
Flexible funding for assets to enable rollout programmes with both large and small energy suppliers by contributing to the upfront cost of a roll out programme
Trusted in the Market
Market benchmarking throughout the deal gives energy retailers confidence in a market leading deal
An ‘Open House’ approach – energy retailers can visit our operations centre in Salisbury, Southern England, with an open invitation to view our capabilities
Commitment and willingness to partner with our customers; building trust and establishing long-lasting relationships
All with no increase to your risk profile
||We have many years of experience raising funding and have substantial facilities available for meter roll-out programmes. We have access to both bank and institutional funding and are able to support roll-out programmes of any size with built in flexibility.
|Asset Tracking & Churn Management
||Tracking and invoicing of assets throughout their lifecycle, using a highly automated meter management system which utilises industry data flows and reporting to manage meter portfolios.
|Asset Warranty Management
||Management of the warranty process, installers, logistics providers and through to asset manufacturers. Monitoring the progress through our asset tracking system.
|Asset Disposal & Recycling
||Disposal of all assets under the Waste Electrical and Electronic Equipment Directive (WEEE).
||Working in partnership with energy suppliers in the sourcing of meters and ancillary equipment to ensure all parties are comfortable with the assets selected. Foresight Metering have agreements in place with a number of major meter manufacturers and are continuously looking to expend relationships.
||Managing the relationships and contractual relationships between multiple parties involved with the smart rollout both pre and post installation of smart meters, looking at all times where possible to work with a partnership approach.
||Supporting the users and maintainers of devices owned by Foresight Metering. Tracking of industry changes and facilitating support and maintenance where required.
How moving away from the established “MAP duopoly” to Foresight Metering does not increase your risk
We are committed to working with energy retailers to ensure that industry uncertainty and market risk are fairly balanced, for example, we:
- Have worked with manufacturers and the wider smart metering supply chain to share the risk for warranties without adding inflated premiums to our offerings
- Have supported energy retailers in deciding the right roles between MAPs and energy retailers for firmware management and execution
- Are proactively engaging industry bodies such as DECC, Energy UK and Ofgem to better understand progress and developments in this changing market
Less competition in the market prescribes future commercial risk for energy retailers. By widening the market, Foresight Metering is driving competition and innovation and reducing future ‘lock-in’ risk. With our providers, we believe the service provided will exceed today’s expectations, and so are keen to be judged on our performance and the competitive pricing we offer.