60% of homeowners stop short of getting smart meter

The government wants 50 million smart meters in place by 2020.

Most British homeowners support the idea of smart meters but without committing to having one installed.

Six in 10 people support the concept of smart meters but a similar percentage do not intend to get one, according to new research by personal finance comparison website finder.com.

The reasons varied, with a quarter unconvinced it will save them money. Another quarter said they did not plan to change their meters because of the pressure to switch by their energy company. Twenty-two per cent of consumers just did not believe smart meters work well.

In total, 15.3 million operation smart meters have been installed since the beginning of the scheme. With a further 11% of Brits intending to get one installed, this is equivalent to 20.8 million meters, finder.com noted.

Over a third of residents in Yorkshire and Humberside support smart meters, making this the most supportive region.

East Anglia respondents supported the principle of smart meters the least, with a quarter saying that smart meters are a bad idea.

Jon Ostler, CEO at finder.com said: “While over 50% of Brits say they do not plan to opt for a smart meter, they could be missing out on saving time and money. Smart meters automatically send readings to your provider, so you are no longer paying estimated bills and you don’t have to waste time submitting readings. Many smart meters come with a display that shows how much you are using and what this is costing you.

“Smart meters are not mandatory for customers. Energy companies will have to offer a smart meter to all their customers by 2024, but customers don’t have to have one if they don’t want it, so no-one should feel under pressure but it’s worth considering the benefits.”