Ofgem announces £40 payouts for smart meter | U.Okay.Finance News
Everyone with a smart meter shall be eligible for £40 funds if they’ve to attend more than six weeks for set up, or if their smart meter is damaged and never fixed within 90 days, vitality regulator Ofgem has introduced.Sweeping adjustments to smart meter guidelines have been revealed tonight (Thursday, August 7) in a transfer which Money Saving Expert founder Martin Lewis has welcomed. Ofgem has unveiled proposals to herald new guidelines which can see clients eligible for £40 compensation if they’ve to attend more than six weeks for a smart meter set up.They can even be eligible if their meter is defective or not working in smart mode, and this isn’t fixed within 90 days. The plans are half of the regulator’s crackdown on damaged smart meters, which has seen the regulator implement restore or substitute of more than 600,000 defective smart meters since final July.It is assumed that tens of millions of smart meters have been left in so-called ‘dumb mode’, the place they’ve poor connectivity or stop routinely transmitting readings.The plans imply that suppliers will need to improve smart meter requirements or pay out from early 2026, in line with Ofgem.Charlotte Friel, director of retail pricing and systems at Ofgem, stated: “Millions of consumers rely on their smart meter every day for accurate billing, cheaper tariffs, automatic meter readings and real-time data to help keep track of spending.“But we know many customers that want a smart meter wait too long to get one installed or face delays on repairs when it stops working – this needs to change.”She added: “These new rules are about setting clear expectations of suppliers, incentivising them to boost smart meter standards, and protecting consumers from poor service if things go wrong.”Reacting to the bundle of reforms, Martin Lewis, founder of MoneySavingExpert.com, stated: “Broken smart meters were high on the list of issues I raised with Ed Miliband when he first became Secretary of State. He promised me he’d investigate, so I was pleased when they told me this announcement was coming.”Far too many smart meters, likely one in five, don’t work as they should – a problem not just for all the homes with broken ones, but for the smart meter rollout. With so many dissatisfied customers, word-of-mouth is bad, so people tell their friends and neighbours not to get one.”We need to shift firms’ focus from just installing smart meters to promptly fixing those that are broken – not just meters that go into dumb mode, but crucially all elements, including in-home displays that stop working. That’s the aim of this plan, and while it’s taking a softer approach than we proposed, it is an improvement and we’ll be monitoring to see if it delivers.”I’m also happy the Government has taken up our suggestion of a Consumer Charter, giving people definite rights and timetabling, and look forward to working with them to make sure consumers understand it when it launches.”
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