Without household flexibility, the UK would face the hefty burden of constructing four new gas-fired power stations by 2030 at a staggering £2.5 billion price tag, coupled with substantial carbon dioxide emissions.

That’s one of the findings of a new research paper commissioned by Smart Energy GB and prepared by Cornwall Insight, which emphasises the importance of a smarter and more adaptable energy system.

This shift towards flexibility, enabled by the implementation of smart meters, has the potential to save the country a significant sum, experts have stressed.

According to the study, embracing flexible energy usage could save Britain a substantial £14.1 billion by 2040.

This financial benefit would come from reduced electricity costs during peak demand periods.

Additionally, the increased flexibility would contribute to a substantial 45% decrease in carbon dioxide emissions, according to the study.

Yesterday, the energy regulator asked for input from stakeholders on how to assist consumers in adopting flexible energy consumption practices.