The Competition and Markets Authority said on October 9 that there are reasonable grounds for believing the undertakings offered by Macquarie Asset Management and Energy Assets Group, or a modified version of them, might be accepted under the Enterprise Act 2002. The remedies aim to resolve concerns in the non-domestic meter reading market.
The CMA had decided on September 25 that the merger may be expected to result in a substantial lessening of competition, referring it for an in-depth phase 2 investigation unless the parties offered acceptable undertakings. Energy Assets Group provides electricity and gas metering, data services and last-mile utility connection services; Macquarie Asset Management already holds UK utility investments including Last Mile Infrastructure, National Gas, Cadent and Southern Water.