EAS.L Regulatory News (EAS)

For immediate release 21 January 2015

Energy Assets Group plc

("Energy Assets", the "Company" or the "Group")

CityWest Homes

Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK1 and provider of electricity metering and data services, is pleased to announce that it has signed an agreement with CityWest Homes, the provider of housing management services to Westminster City Council, for the installation of a "Community Metering" project in 800 properties across eight social housing tower blocks in Central London. Energy Assets has also been further engaged to deploy its Z-LYNK load switching/energy control technology to these properties.

The work, which will commence in January 2015, will be delivered by the Company's subsidiary, Bglobal Metering Limited (BGM) and, as well as the installation and maintenance of meters, will incorporate new Half Hourly (HH) "Community Metering" technology which has been developed by the Group. This technology is the first of its kind in the UK and will allow suppliers to provide beneficial tariffs to the landlord and therefore reduce energy charges to residents where fuel poverty is prevalent. 

CityWest Homes is focused on tackling fuel poverty and improving the comfort afforded to its residents and, as part of this focus, has further engaged Energy Assets to deploy its Z-LYNK load switching/energy control technology to provide opportunity for more intuitive heating control. This will allow CityWest Homes to meet their aspirations of utilising existing storage heaters to improve energy efficiency and provide further opportunity to reduce the cost of heating for residents. Through application of this monitoring and control technology to existing heating systems, landlords can offer the benefits previously stated without the need for significant capital investment into new infrastructure.

Although there is limited impact in the current financial year, the success of this pilot project should present multiple opportunities for further projects of this kind within the social housing, local authority and heat with rent sectors, generating future revenue potential for the Group.

Phil Bellamy-Lee, Chief Executive of Energy Assets, commented:

"We are delighted to have worked with CityWest Homes to shape this innovative project over the last twelve months and look forward to bringing the benefits to its residents. Projects of this kind, developed and implemented by Energy Assets, can ultimately create a platform to deliver load balancing and deferment opportunities to network owners, with storage heating being one of the largest deferrable loads available in the UK. Energy Assets is dedicated to developing innovative technology which will provide benefit to the UK energy market and we are committed to providing solutions which can tackle relevant market issues and help keep the lights on."

Enquiries

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Notes to Editors:

Energy Assets provides metering and related services in the I&C segment of the UK utility market and is the largest independent provider of I&C gas metering services in the UK, by number of assets owned and managed. The Group offers utility suppliers and end-user consumers of energy a broad spectrum of metering services from the provision and management of new and replacement meters through its Meter Asset Management (MAM)/Meter Operator (MOP) divisions to the procurement and project management of related utility infrastructure works and the collection and provision of energy consumption data through the Group's Siteworks and Automated Meter Reading (AMR) divisions.

Energy Assets (EAS) is listed on the Main Market of the London Stock Exchange.