The UK government has been accused of burying a report on its hated £11bn smart meters project by releasing revised spending data just hours after the election of Donald Trump.
The scheme will require energy suppliers to offer 53 million meters to homes and small businesses by 2020 and the implementation is to be rolled out in two phases.
A previous official report revealed that the overall benefit to consumers amounted to savings of £26 a year – or 7p per day.
But according to a report by the Department for Business, Energy and Industrial Strategy, first written in August, those consumer benefits have further diminished.
The Evening Standard found that benefits are now £415m lower than originally thought – just £11 per household in 2020.
Anthony Miller, an analyst for TechMarketView, said the report contains detailed assumptions, calculations and estimates for a business case that never made sense from day one.
"The calculations for the net present value of the costs and benefits of the programme are based on an 18-year horizon from 2011, which takes us to 2029, assuming the rollout completes in 2020. It can't and won't!
"Very simply, the government must stop this madness now. They should not spend a further penny of taxpayers' money chasing this impossible dream. By all means let the energy companies continue to install smart meters at their own pace and cost.
"But the plan to create an integrated 'smart' energy network for the UK is as fanciful and flawed as was the NHS National Programme for IT." ®