intelliHUB is a new business aiming to accelerate the use of smart meters, further extending the benefits of distributed clean energy to Australian households and businesses.
The new intelliHUB joint venture will be a leading Australian provider of smart meter solutions, servicing Australian energy retailers and consumers. The Acumen business included the existing management and servicing of an already deployed 170,000 meters and the combined business has future, long-term contracts with Origin Energy and other retailers, that will see it rollout and manage more than 1 million smart meters across Australia and New Zealand.
There are some 9 million metering points in the National Electricity Market.
By accelerating their conversion to smarter technologies, customers will benefit from more meaningful information relating to their energy consumption.
These customers will be better informed when considering investment in solar and storage solutions by matching system specifications to actual consumption patterns.
Through improved data provision, electricity network operators will also be able to harness greater insights to enable a smoother operation of the energy grid, facilitating improved integration of renewables and energy storage.
The CEFC has committed $35 million in debt finance for the $267 million Acumen acquisition and intelliHUB’s future growth.