Smart meters will only save 2% on consumers’ bills – an average £26 per household per year – according to the Public Accounts Committee (PAC) – a committee of MPs – which disagrees with the opinion of the Department of Energy and Climate Change (DECC) that smart meters will lower bills and make switching easier.
“Smart meters put power into the hands of consumers, bringing an end to estimated billing and helping people understand their energy use,” said energy minister Baroness Verma.
“The nationwide rollout is part of the government’s complete overhaul of the UK’s energy infrastructure which will revolutionise the market and support the development of smarter electricity grids. It will help reduce consumer bills, enable faster, easier switching and give households control at the touch of a button.”
Not so, according to the chair of the PAC, Margaret Hodge. “Despite consumers footing the bill, they can on average make a saving of only 2% on the average annual bill of £1,328 by the time the roll-out is complete,” said Hodge. “Even this is conditional on consumers changing their behaviour and cutting their energy use.”
Installing the meters will cost £10.6 billion at an average of £215 per household.
For more detail: Smart meters a waste of money, say MPs
