EDF Energy has agreed to pay out £350,000 to a consumer fund to avoid enforcement action by Ofgem after the supplier failed to meet its smart meter targets in 2017.
The Big Six firm missed its annual installations for 2017 by less than a month, hitting its target for last year in January 2018.
Under the government’s smart meter roll-out programme, suppliers are required by law to take all reasonable steps to roll-out smart meters to all homes and small businesses by the end of 2020.
They set individual annual targets against which Ofgem monitors compliance, taking action when companies fail to meet them.
However, the regulator has decided not to take formal enforcement action against EDF Energy after the company agreed to pay £350,000 into Ofgem’s consumer redress fund, which supports consumers in vulnerable situations and the development of innovative products or services not currently available to energy consumers.
As of March 2018, a total of 11 million smart meters had been installed by all suppliers in households in a roll-out that was last month said to have been in “disarray”.
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