Octopus Energy has contracted Foresight Metering to fund part of its installation and rollout of smart meters. Tom Thorp, chief executive of Foresight Metering, said: “This transition from Smets1 to Smets2 has been high on our risk register for some time given the number of unknowns.”

Foresight Metering is also working with Igloo Energy and Southampton University to support Project Sense, which explores software that identifies energy efficient upgrades for customers’ homes.