Today, I am pleased to announce the publication of the third DECC annual report on the roll-out of smart meters, which fulfils DECC’s commitment to provide an update to Parliament on the past year’s progress.
Smart meters give consumers greater control over their electricity and gas use, changing the way we think about energy and helping to transform the retail energy market. By providing real-time information and bringing an end to estimated billing, the roll-out will enable consumers to save money on bills, make switching energy suppliers easier and faster, and help to restore trust in the energy market. Smart metering will also help reduce energy waste, with suppliers and networks having access to better information to support a sustainable energy supply.
This annual report reflects on significant developments in 2014. It covers the work that government and industry are undertaking to ensure that the smart metering system delivers the expected benefits to consumers. Much of the framework underpinning the roll-out is now in place and responsibility for taking key elements of the smart metering programme forward is moving to industry and other delivery partners. For consumers the programme is driving real progress. Around 900,000 smart and advanced meters are already operating in homes and businesses, and the number of smart meters installed grows each month.