Fulcrum's electricity assets unit gets crucial Ofgem licence

Multi-utility infrastructure and services provider Fulcrum Utility Services announced on Wednesday that its operating subsidiary Fulcrum Electricity Assets has been granted an independent distribution network operator (iDNO) licence by the Office of Gas and Electricity Markets - Ofgem.

The AIM-traded firm said the industry qualification processes, which would formally enable the company to adopt and own electrical assets, were now well underway and on-track.

Completion was expected in early 2018.

“The granting of this iDNO licence is an important strategic step for Fulcrum, allowing it to broaden and increase its long‐term income stream through the adoption of the electricity assets in addition to gas assets,” said chief executive officer Martin Harrison.