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Vic Smart Meters Disaster: Costs Outweigh Any Benefits

Vic Smart Meters Disaster: Costs Outweigh Any BenefitsThe rollout was effectively complete by mid last year,
but so far only 86 percent of sites were being remotely read due to issues with
technology and communications failures, he said in a report to the State
Parliament.

Only 20 percent of expected benefits from the program are currently being
achieved, his report said. And he predicted consumers would probably need to
fork over more than the previously forecast $319 million to complete
the smart meter rollout and connection program.

“Worryingly, the Department of Economic Development, Jobs, Transport and
Resources does not have a good understanding of the cost of the program,”
Doyle says in his report. “I do not agree with the department’s views that
it should not report publicly on costs . nor do I accept the department’s
assertion that the costs incurred to date do not warrant monitoring and
reporting.”

He said the claimed costs savings “do not┬árepresent any additional
value generated by the program. Furthermore, the overall costs of the smart
meters program significantly outweigh these savings.”