Ofgem unveils overhaul of smart meter reporting

Beginning 5th January 2024, the changes represent a significant shift in how energy suppliers report smart meter information

In light of the statutory consultation published in September 2023, Ofgem has decided to amend the smart meter reporting requirements that energy suppliers annually submit for the Smart Meter Targets Framework.

In February 2023, the Department for Energy Security and Net Zero (DESNZ) engaged in consultations for the Third and Fourth rollout years (2024 and 2025) of the Targets Framework. DESNZ proposed a change to the existing format, suggesting that energy suppliers adhere to separate domestic and non-domestic targets.

This marks a departure from the previous requirement for energy suppliers in the First and Second rollout years (2022 and 2023) to meet a single installation target for each fuel type (gas and electricity).

DESNZ officially confirmed this change in July 2023.

In December 2020, Ofgem confirmed reporting requirements for energy suppliers concerning the First and Second rollout years.

These requirements specified what energy suppliers must report annually for the Targets Framework, aligning with the 2022 and 2023 framework where reporting was set at an overall fuel level, distinguishing between electricity and gas.

In September 2023, proposed changes to the reporting requirements were presented to align with the new domestic and non-domestic Targets Framework for 2024 and 2025.

While there was broad agreement from suppliers on the proposed changes, feedback indicated that certain elements needed clarification.

Taking this feedback into account, Ofgem confirms the implementation of the proposals outlined in the statutory consultation.

However, in response to received feedback, some amendments to the original proposals will be implemented.

The modifications are slated to take effect from 5th January 2024.

In preparation, Ofgem will issue energy suppliers an updated Beginning Of The Year Report in November 2023, instrumental for calculating the 2024 Target Number for Domestic and Designated Premises.

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