Government gets sums wrong on cost of meters

The government has underestimated the cost of installing smart meters for gas and electricity nationally by £6 billion, according to Ernst & Young. Last week ministers agreed to roll out 47 million new smart meters across the country, for an estimated cost of between £7 and £9 billion – an average of £269 to £346 per household. Ernst & Young estimates the true cost would be at least 49 per cent higher and could cost each household up to £515.