UK Smart Meter rollout delayed by 4 more years

It will come as no surprise to industry observers that the smart meter rollout failed to hit it's initial target to roll out smart meters across the UK by 2020. Energy companies had warned that the technology was not yet sufficiently ready and that it was a complex logistical problem. As of the Sept 2019, 16.6 million smart meters have been installed. A long way short of the 51.6 million required.

The government has now delayed the deadline to a more pragmatic date of 2024. This will still require a large uptick in the number of homes adopting the new technology. At least 85% of homes should have a smart meter installed by this date to be on-target.

There are also problems with 1st generation meters being tied to suppliers, rather than open to use by all energy companies. 2nd generation models have been available for quite some time, but some energy companies are still supplying old units to customers until stocks are exhausted.

If you're interested in reading the cost-benefit analysis, it's available to read here:

Supplier benefits have fallen since the 2016 CBA, largely due to changes in the retail energy market that are unrelated to the smart meter roll-out. For example, some consumers now provide meter readings themselves allowing energy suppliers to bank some (but not all) of the efficiency savings that the installation of a smart meter would otherwise bring. However, energy supplier benefits are still expected to amount to £8bn over the appraisal period. Steady state benefits remain broadly similar to the level forecast in 2016, at £1.9bn per annum on average from 2028.

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Have you had a smart meter fitted? If so, what do you think of it?