'Smart Meters' might be a bit thick according to National Audit Office
Have you heard about the smart meters we're all getting? If not, they're digital things which are going to be installed in our houses and they're designed to end unreliable gas and electricity bill estimates. It will also see the death of the meter inspector, which is nice. No-one likes strangers poking around their house, with their stinky Dagenham Smiles poking out from their trousers.
However, it isn't all great news. The National Audit Office has warned that the costs and benefits of this new scheme won't necessarily benefit households.
The Department of Energy and Climate Change have estimated that we'll save £23 per year, but the NAO have pointed out that this figure has been based on a presumption that utility companies will be honest enough to pass on the savings they're making of not having to send out meter readers.
They argue that the actual saving we'll make will be £4.63 billion over a 20 years, which looks good on paper, but it actually breaks down to just £8.91 each year, which equates to a paltry less-than-1 per cent of our energy bills.
The report by the auditors says: "There is a risk that these benefits will not be realised on the scale estimated by the Department."
Of course, these savings won't account for much as we're footing the bill for this new multi-million pound scheme. So are smart-meters just a massive waste of our collective time?