CurveBlock
Private wire and behind‑the‑meter supply are arrangements where generation is consumed directly by a defined set of customers—such as tenants in the same building, an industrial estate, or an adjacent commercial user—without using the public distribution network for that portion of energy. Benefits include avoidance of certain network charges, the potential to capture retail margins, and closer alignment of generation with local demand (for example, EV charging at workplaces).
However, there are practical and regulatory trade-offs. Private wire networks involve contractual complexity: agreements for access, asset ownership, metering and maintenance must be robust. Where export or import across a public network occurs, associated network charging and metering settlement rules still apply. Distribution network operators and the system operator are central to determining when private wires are feasible and whether reinforcement or a licence is required. Projects that rely heavily on captive offtakes also face concentrated counterparty risk compared with diversified merchant export positions.
For investors, these contracts can improve revenue predictability and reduce exposure to wholesale price volatility, but they introduce operational and contractual risk layers: supplier solvency, metering accuracy, and the legal permanence of private wiring rights. Due diligence should cover the contractual arrangements, metering and settlement processes, and the treatment of shared infrastructure costs.
When fractional platforms include assets using private wire or behind‑the‑meter models, prospective retail investors should expect clear, itemised explanations of revenue sources, counterparties and how network interactions are managed—so that the implications for yield stability and liquidity are transparent.