Missed target: Energy supplier pays £1.2m over smart meter rollout failure

Energy supplier Ovo has handed £1.2 million to Ofgem to avoid potentially costly enforcement action from the regulator over a failure to roll out enough smart meters to its customers. Ovo’s subsidiary SSE Energy Services failed to meet its smart meter quota for the second year in a row in 2019, Ofgem said yesterday. It added that Bristol-based Ovo, which inherited the problem when it acquired the business from Perth utility group SSE in a £500m deal completed in January this year, had agreed to pay £1.2m into Ofgem’s consumer redress fund.