An £11 billion scheme to install smart energy meters in every home is flawed and a waste of money, according to an influential group of business leaders. The Institute of Directors will call on Theresa May today to open an “urgent review” into the programme, which it said offered dubious benefits to consumers despite costing up to £410 per household through bills. The government says that the meters will save consumers £26 per year, meaning that it could take 15 years before they benefited from the move. Smart meters show in real time how much electricity and gas is being used by households. Supporters claim that they encourage greater energy efficiency, leading to lower bills and carbon emissions. About 3.6 million smart meters have been installed, with the government planning a further 50 million by the end of the decade.
Times 23rd Sept 2016 read more »