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Smart Meter Costs
Legacy_user
Posts: 0 Newbie
Quote: The cost of installing smart meters in homes across Britain is set to come in at almost double the original estimate, putting an extra £9billion on household energy bills and wiping out all the supposed financial benefits of the scheme.
Sources at the Big Six power giants have told Money Mail that the estimated cost of rolling out the new digital meters has ballooned from £11billion to nearer £20 billion.
The huge increase, which is expected to be confirmed in an official report later this year, would wipe out all the savings households were promised from smart meters.
Read more: http://www.thisismoney.co.uk/money/bills/article-5442371/The-9bn-extra-cost-smart-meters.html#ixzz58OeLjJOs
It looks like the energy companies and the Daily Mail know what will be revealed by the ongoing NAO investigation into smart meter costs. Hopefully, the Government will be forced to review what is turning out to be another costly Government-sponsored IT failure.
Sources at the Big Six power giants have told Money Mail that the estimated cost of rolling out the new digital meters has ballooned from £11billion to nearer £20 billion.
The huge increase, which is expected to be confirmed in an official report later this year, would wipe out all the savings households were promised from smart meters.
Read more: http://www.thisismoney.co.uk/money/bills/article-5442371/The-9bn-extra-cost-smart-meters.html#ixzz58OeLjJOs
It looks like the energy companies and the Daily Mail know what will be revealed by the ongoing NAO investigation into smart meter costs. Hopefully, the Government will be forced to review what is turning out to be another costly Government-sponsored IT failure.
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Comments
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£20billion - that's about £300 for every man, woman and child in Great Britain.
Wonder how much it works out per meter?
Yet another farce which is costing us all dear, as is typical of government schemes which "benefit" citizens - oops, sorry, business.0 -
The problem is that the costs are real but the benefits are very much a best guess. For example, there are assumed savings of £3 per meter per year for saved meter readings. These projected savings were made before Ofgem changed the meter reading regulation. It follows that the assumed £3.3M extra cost may be an under estimate.0
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Another reason to believe prices will rise in the next year .0
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Another reason to believe prices will rise in the next year .
And further concerns about prices if this article is to be believed:
https://www.telegraph.co.uk/business/2018/02/27/gas-prices-surge-beast-east-grips-britain/
Probably not wise to mention the £500M unfunded expenditure that Siemens is having to pay to re-surface some of the turbine blades on their off-shore wind farms. Apparently, the leading edges of the blades have been eroded away by some unexpected salt spray!!0 -
Quote: The cost of installing smart meters in homes across Britain is set to come in at almost double the original estimate, putting an extra £9billion on household energy bills and wiping out all the supposed financial benefits of the scheme.
Sources at the Big Six power giants have told Money Mail that the estimated cost of rolling out the new digital meters has ballooned from £11billion to nearer £20 billion.
The huge increase, which is expected to be confirmed in an official report later this year, would wipe out all the savings households were promised from smart meters.
Read more: http://www.thisismoney.co.uk/money/bills/article-5442371/The-9bn-extra-cost-smart-meters.html#ixzz58OeLjJOs
It looks like the energy companies and the Daily Mail know what will be revealed by the ongoing NAO investigation into smart meter costs. Hopefully, the Government will be forced to review what is turning out to be another costly Government-sponsored IT failure.
Well who didn't see this coming0 -
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Glad I've fixed my gas price til late 2019 then:TAnd further concerns about prices if this article is to be believed:
https://www.telegraph.co.uk/business/2018/02/27/gas-prices-surge-beast-east-grips-britain/0 -
£20billion - that's about £300 for every man, woman and child in Great Britain.
Wonder how much it works out per meter?
Yet another farce which is costing us all dear, as is typical of government schemes which "benefit" citizens - oops, sorry, business.
And without smart meters, sending out a person to read your meter every so often..... I forgot that this was done for free................0 -
And without smart meters, sending out a person to read your meter every so often..... I forgot that this was done for free................there are assumed savings of £3 per meter per year for saved meter readings.
So that'll be over a hundred years for the meter to pay for itself then. I hope you weren't going to change supplier in that time, as they're not transferable.0 -
So that'll be over a hundred years for the meter to pay for itself then. I hope you weren't going to change supplier in that time, as they're not transferable.
If you ignore inflation and the fact that electricity meters are not designed to last 100 years and so would need a replacement anyway, then you might have something... but you dont unfortunately.0
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