Energy White Paper smart meters plan

Commenting on today’s Energy White Paper plan to put smart meters into every UK home within the next ten years, Paul Schofield, head of utilities at moneysupermarket.com, said: “Existing energy meters only confuse customers.

“After the recent winter of sky-high gas prices, we found that nearly one in three gas customers’ bills were based on outdated meter readings. A smart meter would have helped those who took steps to reduce their winter gas usage to keep their supplier informed and save money quickly.

“Gone would be the days of estimated readings and providers keeping your money on account. We recently estimated gas suppliers had amassed nearly half a billion pounds worth of customers’ unspent money this way, an average of £56 per household currently in credit.

“It will be interesting to see how providers respond to this initiative. As well as the inevitable issues around installing all these meters in the first place, some will be less keen than others to see the true price of the energy they supply laid bare before their customers.”

moneysupermarket.com is making a stand to help people ditch their expensive power companies and get the cheapest energy deal by offering £30 cash-back to all customers swapping to a dual fuel tariff through its service. Those not going for a dual fuel tariff but changing a provider or tariff will benefit from a single £17.50 payment.