Energy regulator Ofgem has published its decision to amend smart meter reporting requirements for 2024 and 2025.
The amendments, which define how energy suppliers submit their smart meter reporting to Ofgem annually, will impact the Smart Meter Targets Framework. This was introduced to ensure the government’s target of having a smart meter in 80% of English, Scottish and Welsh homes and in 73% of small businesses by the end of 2025, remained achievable.
This framework had been consulted on by the Department for Energy Security and Net Zero (DESNZ) with plans to implement a change to the existing format for the third and fourth rollout years (2024 and 2025).
This change will see energy suppliers focus on separate domestic and non-domestic installation targets as opposed to a single installation target for each fuel type (gas and electricity). This was used in the first and second rollout years (2022 and 2023).
Ofgem stated that the modification will take effect from 5 January 2024 with an updated ‘Beginning Of The Year Report’ to be issued in November 2023. This will enable energy suppliers to calculate the 2024 ‘Target Number for Domestic and Designated Premises’.
Just last week Ofgem revealed that British Gas, OVO, Bulb, E.ON, Scottish Power and SSE had been ordered to pay a combined £10.8 million after missing the smart meter installation target in 2022.
The missed installation target was in direct violation of the government’s Smart Meter Targets Framework. This annual target was calculated using a government formula based on the amount of customers each energy supplier had.
Despite these shortcomings, it is worth noting that as of June 2023, over 33 million smart and advanced meters have been installed in homes and small businesses across Great Britain, which represents 58% of all meters in the UK.
