Scottish Power and SSE fell short of the first annual target under a government push to install smart meters across the UK.
Six of Britain’s biggest gas and electricity suppliers will pay out £10.8 million to the energy watchdog after failing to meet the first annual target under a government push to install smart meters across the UK.
They have agreed to pay the redress into Ofgem’s fund to help vulnerable households, with British Gas paying out the most, at £3.4 million, followed by Ovo at £2.4 million and Bulb, which was bought out of administration by Octopus in December 2022, at £1.8 million. Smart meters allow households to track energy usage and access smarter tariffs that can save money by encouraging energy use outside peak times or when there is an excess of clean electricity available.
“Smart meters give customers better information about their energy usage helping them budget and control their costs.”
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