An agreement has been entered into to sell PLUS ES’s unregulated digital metering business to DigitalBridge, a leading global alternative asset manager dedicated to investing in digital infrastructure.
Today’s announcement represents an exciting new chapter for the PLUS ES digital metering business which will create new opportunities for investment, innovation and growth across the digital electricity and water metering operations.
PLUS ES was established in 2017, following the acquisition of AGL’s ActiveStream and has grown to include 2 million installed digital meters today with a strong pipeline of still to be installed meters.
The PLUS ES contestable infrastructure business is not part of the sale and will be transferred to other Ausgrid Group partnerships.
While the sale is finalised PLUS ES will continue to deliver the same high standards of service, responsiveness and support to the electricity market and its customers.
The deal is subject to customary closing conditions, including regulatory approvals.
PLUS ES operates as a separate business from Ausgrid with strict ring-fencing rules. The sale does not impact the network tariffs customers pay through their electricity bills.