Iberdrola Plans UK Smart Metering Sale

Spanish utility Iberdrola is exploring the sale of its UK smart metering business, aiming to raise around £1 billion ($1.27 billion), according to sources. The process, advised by RBC, is in early stages, with no guarantee of a deal. Iberdrola’s subsidiary, ScottishPower, manages over 2.5 million smart meters. This move aligns with growing interest from infrastructure funds in smart metering assets.

In recent months, Iberdrola has focused on expanding its UK operations, including acquiring a majority stake in Electricity North West.