21st Aug 2020 09:07
(Alliance News) - The Office of Gas & Electricity Markets on Friday said SSE Energy Services has again missed its smart meter installation target and, as a result, its new parent Ovo Energy has agreed to voluntarily pay GBP1.2 million to Ofgem's consumer redress fund.
"SSE Energy Services failed to meet its smart meter installation target for 2019, before it was acquired by Ovo Energy in 2020," Ofgem said. Ovo Energy acquired SSE Energy Services from FTSE 100-listed SSE PLC in January.
The energy regulator said it has decided not to take any formal enforcement due to the voluntary payment by Ovo.
In 2019, SSE paid GBP700,000 into the same redress fund for a similarly missing targets.
Under the UK government's smart metering implementation programme, energy suppliers are required to take all reasonable steps to rollout smart meters to all homes and small businesses by mid-2021.
To work towards this, energy suppliers set individual annual targets for smart meter installations and Ofgem monitors performance against these targets.
Ofgem said it is "closely monitoring suppliers' approaches to the rollout of smart meters and will use its discretion to hold suppliers to account if they do not meet their obligations".
By Tapan Panchal; [email protected]
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