Suppliers are required to set individual annual targets for the technology to be installed for their customers – the Big Six company missed its target for 2017.
Under the UK Government’s smart meter rollout programme, large energy suppliers are required to provide it to all homes and businesses by the end of 2020.
EDF Energy met its 2017 target in January this year instead, three weeks after the deadline and therefore agreed to pay the money to Ofgem’s redress fund administered by the Energy Savings Trust. The fund supports consumers in vulnerable situations and the development of innovative products or services.
As a result, the regulator decided not to take formal enforcement action against the supplier.
EDF Energy said it is “disappointed” about missing the target but is “working hard” to meet its objectives.
Director of Customer Operations Jim Poole added: “During 2017, we doubled our smart meter installation rates and employed more people to install smart meters. We recovered the shortfall quickly in 2018 and are on target for this year.”
Around 11 million smart meters have been installed by all suppliers in households as of March 2018.