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To ask the Secretary of State for Business, Energy and Industrial Strategy, what allowance it made for the average cost to suppliers of installing a smart meter when setting the pre-payment meter price cap.
Ofgem are responsible for setting the safeguard tariff (or ‘price cap’) for pre-payment meter customers. The methodology used for setting the level of the cap is based on calculations of wholesale costs, network costs, policy costs, operating costs, and costs specifically associated with prepayment meters. This includes the costs and benefits of smart metering.
Further details are available on Ofgem’s website: