ESP Utilities Group
Description
ESP Utilities Group is a independent gas transporter (iGT) and independent distribution network operator (iDNO) in the UK. Founded in 2000, the company focuses on being an independent asset owner, providing 'last mile' gas and electricity network connections to residential and commercial properties. ESP generates revenue by acquiring gas and electricity network connections from utility infrastructure providers, who have designed and installed the connections for property developers. ESP is then responsible for maintaining these connections and receives a regulated revenue stream for each connected property. The company's charges for gas and electricity connections are regulated by Ofgem, the UK's energy regulator.As of 2023, ESP owns over 500,000 gas and electricity network connections and has an order book for an additional 200,000 connections, making it the second-largest iGT and iDNO in the UK. The company also operates a domestic metering business, which accounts for nearly a quarter of its revenuesIn June 2017, 3i Infrastructure plc, an investment company managed by 3i Investments plc, invested £191 million to acquire a 50% stake in ESP. This investment was part of 3i Infrastructure's strategy to build its portfolio of energy and utilities investments.