The government's £11bn roll-out of smart gas and electricity meters will cost every home about £215 over the next 15 years – yet households will save at most just 3% a year on the average energy bill by 2030, MPs have warned.
Householders would save an average of just 2% on the typical annual bill of £1,328 until 2020, rising to £43 a year or 3% by 2030, the influential public accounts select committee said.
The average impact on bills of the suppliers' net costs was expected to peak at £11 a year in 2017. The £215 represents the capital cost of installing the equipment, which will be borne by consumers between 2015 and 2030.
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