The financial expert took to X, formerly known as Martin tweeted out: “This is the sec of state for energy’s reply that I just received after I raised a number of critical issues with her in a meeting including – the moral hazard of overly high standing charges. “We have further asked Ofgem and suppliers to ensure fixing faulty smart meters is a priority and I am considering further steps to speed up compensation and better hold suppliers to account.
What would be useful is if the energy companies posted a breakdown of the standing charge? Because it would then be transparent which parts are for operating costs and which are ‘temporary’.
I.e. to pay for failed suppliers.
The latter should be clearly time limited.” Another dissatisfied customer expressed their frustration with their smart meter, stating: “My ‘smart’ meter was fitted by @OctopusEnergy 1/2/24 it’s never worked, still waiting for customer data, bloody joke”.
Meanwhile, a different customer inquired about the situation for those with older generation meters: “What about people with 1st gen meters? I changed supplier and now don’t have a working display cos I have an earlier meter.”
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