What is the gas meter merger the CMA is looking at?
The gas meter merger is Macquarie’s agreed purchase of Energy Assets Group, or EAG. Macquarie announced the deal in February 2026. Both businesses provide gas metering services in Great Britain, which the Competition and Markets Authority (CMA) describes as installing and maintaining meters and collecting consumption data so that bills can be produced.
On 9 October 2026 the CMA said it is considering legally binding undertakings offered by Macquarie to deal with competition concerns it found in its first phase investigation. The concerns relate to one slice of the market: non domestic gas meter reading services for commercial customers using non smart meters.
So this is a story about businesses, not households. If you run a business with a traditional or advanced gas meter, it is worth knowing about. If you do not, you can safely skim it.
Why was the CMA worried about the gas meter merger?
The CMA found that the gas meter merger would materially increase concentration in an already concentrated market. It describes EAG as currently the largest supplier of these services, and says the combined market share of the two businesses is, in its own words, very high. It does not publish a percentage, so neither will we.
The CMA names the only other main competitors as Stark and SMS. It also notes that Macquarie keeps a minority interest in Stark, and controls National Gas Metering, the other side of the deal. That matters because the more a market depends on a few providers, the less choice there is for the businesses that depend on the service.
The CMA has not said that prices will rise, and its release does not mention business gas bills at all. Concern about concentration is a reason to look closely, not a finding that customers have been harmed.
What has Macquarie offered to settle the gas meter merger?
Macquarie has offered to have EAG sell its non domestic, non smart gas metering services business to an approved purchaser. The CMA says non smart covers traditional and advanced meters. The idea is that the buyer would keep that business running as a viable competitor to Macquarie’s own metering arm.
Sorcha O’Caroll, Senior Director at the CMA, said: “We believe Macquarie’s proposals have the potential to resolve our competition concerns.” She added that the CMA will now carry out a more detailed assessment to make sure EAG’s non smart gas metering business, once sold, will be able to compete effectively with Macquarie.
Key takeaways
- The gas meter merger covers non domestic, non smart gas metering services for commercial customers.
- The CMA has not decided yet. It is considering Macquarie’s offer to sell EAG’s business.
- Its release does not say anything about prices or what businesses should do.
What happens next with the gas meter merger?
The CMA says it will consider the remedy in more detail over the next 40 working days. That includes asking third parties for their views and looking at potential buyers. Counting 40 working days from the 9 October announcement lands in the first week of December, but the CMA’s case page carries the formal timetable, so check there rather than relying on our count.
There are two possible routes from here, according to the CMA.
- If the CMA is satisfied the undertakings work, it will conditionally clear the deal.
- Otherwise, it can still refer the deal for an in depth phase 2 investigation.
The CMA also says it will consult on the proposed undertakings before deciding whether to accept them. If accepted, they become legally binding, and the CMA says formal acceptance would mean it clears the deal under the Enterprise Act 2002. Nothing is settled yet.
Does the gas meter merger affect your business gas bill?
Nobody can say for certain, and we would be wary of anyone who does. The CMA’s release is about competition between meter service providers, and it does not talk about the price a business pays. What it does show is that some businesses rely on a small number of providers for their non smart gas metering.
It is also not clear from the release whether your own meter is one of the ones concerned. That depends on the type of meter you have and who provides the service for it. Your supplier or your bills should tell you more.
Metering is just one piece of a business energy bill. Our guide to hidden business energy charges explains what else sits on a bill, and the guide to smart meters for businesses covers the alternative to a non smart meter.
What should a business check now?
There is nothing in the CMA release asking businesses to take action, so this is about being informed rather than rushing. A few quick checks are worthwhile, and they are good habits anyway.
- Your meter type. Find out whether your gas meter is smart, traditional or advanced. Your supplier or your latest bill should say.
- Your meter charges. Look for any line on your bill or contract for meter services, and note what it says.
- Your contract dates. If your renewal is coming, the Do-Nothing Default is expensive. Compare options before an automatic rollover decides for you.
- Your metering data. If your usage is billed on readings, read our guide to half hourly metering and your business energy bill.
Frequently asked questions about the gas meter merger
- Who is buying Energy Assets Group?
- Macquarie announced in February 2026 that it had agreed to buy EAG. The CMA has not yet decided whether to allow the deal to go ahead on the terms offered.
- Does the gas meter merger affect household customers?
- The concerns the CMA identified relate to non domestic gas meter reading services for commercial customers with non smart meters.
- What is a non smart gas meter?
- The CMA says the term covers traditional and advanced meters. A smart meter is the other main type.
- Can the CMA still block the gas meter merger?
- The CMA says it can still refer the deal for a phase 2 investigation if it is not satisfied the undertakings address its concerns.
Sources
- CMA: Remedies offered to resolve concerns in non-domestic meter reading merger, published 9 October 2026. Source for the February 2026 agreement, the Great Britain scope, the finding on concentration, the “very high” combined share, Stark and SMS as the other main competitors, Macquarie’s minority interest in Stark, the divestment remedy, the Sorcha O’Caroll quote, the 40 working day assessment period, the consultation, and the Enterprise Act 2002 point.
Checked 28 October 2026.
