A report by The Telegraph on Saturday 10 June has said the combination of delays to the smart meter rollout, and the expected crackdown on energy bills from the new government will leave utilities facing even higher costs.
The paper quoted senior energy industry sources who said the “double blow” could lead to deep cuts in earnings, threatening needed investment in the retail energy market and putting dividends at risk. One senior executive told The Telegraph that the smart meter delay could lead to an extra £700mn in costs across the sector.
The Data Communications Company (DCC), which expects the final version of the smart data and communications infrastructure to be live in July, said: “We are in the final stages of testing and will deliver at the earliest possibly opportunity”. The DCC added that it expects to claim over £290mn in revenue from energy companies in 2017 alone.
The DCC is responsible for both establishing and managing the necessary infrastructure to support the rollout of smart meters to businesses and households across the UK – which, the Conservatives said will be offered to everyone by 2020.