The National Audit Office (NAO) has published a report today in which it concludes that the government cannot meet its target to install smart meters in every home by 2020.
Smart meters are designed to save households money by encouraging consumers to use less energy. Since they send readings to suppliers, they avoid the need for estimated bills, or homeowners having to submit meter readings, in turn reducing suppliers’ costs.
Although the government insists it can meet the target, NAO highlight that 39 million meters will need to be installed within the next two years.
The report states that the programme is late and the costs are escalating. It says that in 2017 the cost of installing smart meters was 50% higher than the Department for Business, Energy and Industrial Strategy (BEIS) forecast.
NAO maintains that there are serious issues that need to be addressed if the Smart Meters programme is to roll out successfully and deliver value for money.