According to Ofgem, Electricite de France (EDF) will pay £350,000 ($463,406) to Britain's energy regulator after the supplier failed to meet a domestic smart meter installation target for its UK customers.
The fine is the result of a legal obligation that exists under the U.K. government's smart-meter rollout programme to install smart meters in all homes and small businesses in the country by the end of 2020.
Every large supplier has an annual roll out target to provide consumers with real-time energy usage data, a target that is monitored by Ofgem.
The fine will be paid into Ogem’s redress fund to avoid formal action being taken.
Ofgem said it was “closely monitoring suppliers’ approach to the roll-out of smart meters and will hold suppliers to account if they do not meet their obligations”.
This is the first time an energy supplier has been penalised for missing domestic smart meter targets.
The French state-owned company said it was disappointed it missed the target but had since caught up and was on track to hit this year’s target.
Thus far over 11 million smart meters have been installed, most of them being first generation SMETS1.