Six energy firms are to payout £10.8 million to the energy watchdog for missing smart meter targets.
Scottish Power, SSE, Bulb, Ovo, Bulb, E.On and British Gas fell short of their first annual target by 2022 by more than a million smart meters.
The money will be paid into Ofgem’s fund to help vulnerable households with £3.4 million to be paid out by British Gas, Ovo will pay £2.4 million along with Bulb and Octopus at £1.8 million.
Cathryn Scott, director of enforcement and emerging issues at Ofgem, said: “The installation of smart meters is a vital step in the modernisation of our energy system and the path to net zero by 2050.
“Smart meters give customers better information about their energy usage helping them budget and control their costs.”