New 2024 smart meter deadline is not realistic: Devices will need to be installed at a rate of one every seven seconds
Suppliers will now have until 2024 to install the smart meters in at least 85% of homes
Smart meters will need to be installed at a rate of one every seven seconds if the Government is to meet its new deadline, according to research.
Last week, ministers said suppliers will now have until 2024 to install the devices in at least 85 per cent of homes.
But analysis from consultancy Cornwall Insight shows that this still presents a ‘significant challenge’.
The roll-out has been so shambolic that just over half of homes will have a smart meter by the original 2020 deadline, while the estimated cost has already soared by £2.5billion to £13.5billion.
Rowan Hazell, analyst at Cornwall Insight, says that, while the delay is ‘sensible’, the Government is still taking a tough approach on suppliers.
He points out that installation rates have fallen for four consecutive quarters because of problems transitioning to the newer SMETS2 meters, a trend that suppliers will need to reverse.
Experts have previously told Money Mail that the roll-out may not be complete until 2030.