BEIS issued an updated Cost Benefit Analysis (CBA) for the smart metering programme on Monday 16
September, alongside a consultation proposing requirements for suppliers to meet annual installation
milestones to support the completion of market-wide smart metering by 2024. The government is still
committed to ensuring that every home is offered a smart meter by the end of 2020, but it has forecast that
meter penetration levels will be just over 55% at the deadline. To ensure the rollout continues with
momentum from 2021 onwards, BEIS has proposed a market-wide obligation which would see the setting
of binding milestones on a straight-line trajectory, taking into account the number of meters installed as of
31 December 2020. Under the revised CBA, the Net Present Value of the programme has increased by
£0.224bn to £5.977bn over 2013-2034, partly due to BEIS now being able to monetise several consumer
benefits. Responses to the consultation are requested until 11 November.
