Benefits of smart meter rollout cut
Smart Meter Rollout scheme predicted to cost more than planned
The government’s scheme of rolling out smart meters to every home in the UK was originally set to cost £7 billion to install and would save £11.8 billion, including £4 billion in cheaper bills for customers.
However a new report has been published that has drastically lowered the predicted benefits. Compared to the previous forecast two years ago, the costs have increased by £54 million and the benefits have been reduced by £415 million. This comes down to £11 saved per household in 2020, which is less than half of the £26 previously predicted.
Overall, the total value of the smart meter scheme has been predicted at £5.75 billion, a £469 million reduction from earlier predictions.
Mark Todd of energyhelpline has commented: “It feels like the smart meter scheme is pushing up bills rather than reducing them as intended. Only time will tell what is really the case.”
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