REG - OFGEM - Suppliers pay £10.8m for missed smart meter target

E ON SEAnnouncement

09/11/2023 08:15

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RNS Number : 8276S  OFGEM  09 November 2023

Ofgem has today (Thursday, 9 November, 2023) announced that energy suppliers
British Gas, OVO, Bulb, E.ON, Scottish Power and SSE will pay out a total of
£10.8m after missing smart meter installation targets for 2022.

The firms fell short of the installation targets
(https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1171538/proposed-amendments-to-electricity-and-gas-supply-standard-licence-conditions.pdf)
set for 2022, culminating in a shortfall to install a total of 1,026,628 smart
meters by the required deadline.

Following action by Ofgem, the companies have agreed to pay a total
of £10.8m into Ofgem's Energy Industry Voluntary Redress Fund (EIVRF) in
respect of them not meeting smart meter installation targets for 2022.

A full breakdown of the payments made into the EIVRF is outlined in the table
below:

 Supplier        Total Voluntary Redress Payments made into EIVRF
 British Gas     £3.37m
 OVO             £2.39m
 Bulb            £1.83m
 E.ON            £1.72m
 Scottish Power  £1.24m
 SSE             £252k
 Total           £10.8m

 

For more information please see the full press release at:
https://www.ofgem.gov.uk/publications/energy-suppliers-pay-total-ps108-million-not-meeting-smart-meter-installation-targets-2022
(https://www.ofgem.gov.uk/publications/energy-suppliers-pay-total-ps108-million-not-meeting-smart-meter-installation-targets-2022)

 

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