UK Energy Giants Miss Smart Meter Goals

In the UK, six energy suppliers—British Gas, OVO, Bulb, E.ON, Scottish Power, and SSE—failed to meet their 2022 smart meter installation targets by some 1 million units. Consequently, they will collectively pay £10.8 million to the Office of Gas and Electricity Markets’ Energy Industry Voluntary Redress Fund, which supports vulnerable consumers. Additionally, Scottish Power is to pay an extra £440,000 for not meeting its 2019 smart meter obligations. As of June 2023, there around 33 million smart meters in Britain, marking a 58% penetration rate in homes and small businesses.