Theresa May’s price cap on energy bills risks damaging her government’s hopes of installing millions more smart meters in homes, two of the UK’s biggest energy companies have warned. Giving evidence before the business, energy and industrial strategy committee , British Gas owner Centrica said: “We believe the price cap will damage the rollout of smart meters and may reduce the total number of meters installed.” The country’s biggest energy supplier also said if the cap was set too low, energy firms would be unable to recover their costs, slowing down or even stalling the rollout. That warning was echoed by E.ON. It said too low a cap would squeeze companies’ profits or push them into a loss, making it difficult or too expensive for them to access capital for the devices. The roll-out “would be constrained by what a supplier could afford”, E.ON added.
Guardian 11th Dec 2017 read more »