National Grid makes a pitch to be a 'smart meters' leader

National Grid put in a plea to be placed at the centre of the country's "smart metering" revolution — just a year after the company was found guilty of abusing its gas meters monopoly.

Energy Secretary Ed Miliband this week unveiled plans for the nationwide installation of smart meters, which could transform the efficiency and cost of household energy by measuring and regulating use.

"We are the biggest metering business in the country with our 20 million gas consumers," said Grid chief executive Steve Holliday.

"We have a lot of expertise and want to be at the forefront of what can be implemented."

The call came as the group said it is still mulling whether to take Ofgem to the Court of Appeal after the regulator fined Grid £41 million — which was reduced to £30 million at tribunal — for allowing customers to be overcharged through their metering costs.

Grid today reported a 3% decline in pre-tax profits to £1.77 billion in the year to 31 March.
The dividend is raised 8% to 35.64p.