BusinessCompany NewsGovernment underprices smart meter cost by £6.4bn, says E&Y

Government underprices smart meter cost by £6.4bn, says E&Y

Firm estimates the true cost of smart meters could be 50% higher

Ernst & Young has rejected a government estimate for a nationwide rollout
of smart meters, and said the true cost is 50% higher.

EY was asked to audit the project, which involves the installation of 47
million new gas and electricity meters that monitor gas and electricity use in
real time, the Times reported.

The government estimated it would cost between £7bn and £9bn, an average of
£269 to £346 per household. But EY has said this underestimates the cost by as
much as £6.4bn, and it would actually cost up to £13.4 bn, or £515 per
household.

E&Y said the government had underestimated the scale of the new
technology and the infrastructure required to support smart meters.

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