Energy Assets has been awarded an Independent Gas Transporter (IGT) and Independent Distribution Network Operator (IDNO) license to own, adopt and operate gas and electricity networks and the company has launched Energy Assets Pipelines and Energy Assets Networks as independent gas (IGT) and electricity (IDNO) network ownership entities. Working alongside its direct labour division and Dragon Infrastructure Solutions (part of Energy Assets) the businesses are also partnering with independent utility construction contractors and residential and commercial developers to provide innovations in asset-based finance, network design, network ownership, compliance and management.
Colin Lynch, Energy Assets’ Chief Executive Officer, says the move into ‘final mile’ network ownership comes at a time of great opportunity for the house builder and developer sector.
“Britain stands on the brink of the biggest house building programme for generations,” he said. “With the government’s stated aim of creating 300,000 new homes every year, the question is – how can developers and contractors make the most of this opportunity?
To help house builders and NERS and GIRS approved contractors deliver the most cost-effective and efficient utility networks, we’ve created ownership vehicles that will speed up design and approvals timescales and offer innovative asset-based finance packages. We are also one of just a handful of independent operators authorised by OFGEM for both gas and electricity network ownership and management."
As part of this drive, the Group’s recently-acquired business Utility Distribution Networks Ltd, an IDNO, is being rebranded Energy Assets Networks and will be building on its established relationships with house builders and contractors to drive expansion across Britain.
Gas network ownership will be managed through Energy Assets Pipelines, a new business that will leverage the Group’s extensive gas network design and asset management expertise.
Debbie Edgar, Managing Director of Energy Assets Networks, commented:
“The launch of Energy Assets network ownership continues to transform the competitive landscape in the ‘final mile’ of utility connections and ownership. The flexibility that is available to IDNOs such as Energy Assets Networks creates innovative finance options for contractors and developers that the existing distribution network operators simply cannot match.”
John McLuskey, who is leading Energy Assets Pipelines gas operation, said:
“With Energy Assets’ proven asset management expertise and our track record in delivering process innovation, we see great opportunities opening up for our customers to speed up network construction through expert design certification, compliance support and flexible funding options, resulting in a more cost-effective utility provision.”