Ernst & Young: Cost of cheap energy smart meters underestimated - 18/05/2009
Switching energy companies could still be popular as Ernst & Young has said that nationwide smart meters could cost £6.4 billion more than expected, reports the Times.
The cost has been estimated at a minimum of £7 billion, but the firm said that further infrastructure and technology will be needed to support the smart meters and this will result in the price of roll-out increasing.
In addition, there are concerns that consumers will be expected to pay for the costs through increased energy bills, which many homeowners are already struggling with despite recent price decreases.
Ian Parrett, of energy consultancy Inenco, told the paper: "There is the additional cost of installing these meters across the whole of the UK. Then there is the additional resourcing and personnel required to deal with the large increase in customer inquiries."
The Department of Energy and Climate Change (DECC) told the paper it remains "confident" in its pricing and that the energy industry was consulted during the process.
A listed building which currently houses the DECC has received the lowest energy efficiency rating, according to the Guardian.
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