The Competition and Markets Authority (CMA) is currently assessing an offer from Macquarie to sell Energy Assets Group's (EAG) business that provides non-domestic, non-smart gas meter reading services to commercial customers. This proposal aims to address competition concerns identified during the CMA's initial phase 1 investigation into Macquarie's acquisition of EAG.
Macquarie announced its agreement to purchase EAG in February 2026. Both companies are involved in providing gas metering services in Great Britain, which includes installing and maintaining meters and collecting consumption data for billing.
The CMA concluded that the merger of Macquarie-controlled National Gas Metering and EAG, which is currently the largest supplier of these services, would significantly increase concentration in an already concentrated market. The combined market share of these businesses is described as very high, with Stark and SMS being the only other main competitors.
Macquarie's proposed remedy involves EAG selling its non-domestic, non-smart gas metering services business to an approved buyer capable of maintaining it as a viable competitor. Sorcha O’Caroll, Senior Director at the CMA, stated that Macquarie's proposals have the potential to resolve their competition concerns.