SSE has now installed over 600,000 smart meters, according to its latest trading statement, a significant increase in the last few months.
However, it lost almost a quarter of a million customers during that time.
The company told The Energyst on 2 March that it had installed “over 400,000 smart meters” and said its proposed total investment in the programme was set to top £1bn.
SSE will have to at least offer a smart meter to around 7m customers by 2020. The firm welcomed the recent Smart Meter Bill, which gives the government five more years to change smart meter regulations, suggesting it may make the rollout more efficient.
The company also welcomed Ofgem’s recent decision to cut Triad benefits for small generators and is likely anticipating a higher outturn in the forthcoming capacity auctions as a result.
The statement showed that SSE customer losses continue. The firm lost 230,000 accounts in the three months to 30 June, with total GB and Ireland accounts now standing at 7.77m. That is a greater loss of customers in three months than it reported for the entire year to 31 March.
Between April and June, across the UK, some 1.3m households switched supplier, according to Energy UK figures. Around 500,000 of those accounts moved from big suppliers to small suppliers. But competition between large suppliers is almost as keen: around 425,000 customers shifted from one large supplier to another.
“As expected, 2017/18 is presenting a number of complex challenges to manage,” said SSE chief Alistair Phillips-Davies, adding that SSE remained “disciplined” and “resilient”.
“There continues to be significant change across the energy sector, but also opportunities for responsibly-minded businesses to contribute positively to its direction in the interests of customers and investors alike.”
Fellow supplier Scottish Power also shed customers, according to first half results posted by parent company Iberdrola. The firm said challenging conditions in the UK and Spain, including warmer weather and less rain, hit group earnings.
See SSE’s statement here.
See Iberdrola’s results here.
Related stories:
Aborted billing system upgrade hits SSE profits
SSE kicks billing system upgrade into touch
Smart Meter Bill: Wiggle room for rollout deadline?
SSE urges smart meter rethink as costs spiral and benefits tank
Put ‘troubled’ smart meters programme on hold, urges IoD
Smart meter rollout nears 6m – will 2020 deadline soften?
Ofgem mulls what to do if people don’t engage with smart meters
SSE touts big energy bill reductions for firms via IT and comms control software
Dong and SSE go head to head on green business tariffs
British Gas hit with £9.5m fine for billing failuresÂ
Npower to pay £26m for customer service failures
BES Utilities fined £1m for bad business practices
Click here to see if you qualify for a free subscription to the print magazine, or to renew.
Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.
I presume this a typo stating 600,000 MILLION smart meters have been installed by SSE? Do you mean 600,000?
Would like to say you win the prize for spotting the deliberate mistake Chris. But that would be a lie. Thanks for flagging.