Smart meters rollout labelled a 'fiasco' as consumers face extra £500m bill

National Audit Office says that with 39m meters still to be replaced, government has no chance of hitting 2020 deadline

Consumers face paying half a billion pounds more than expected for the rollout of smart meters and the programme has no chance of hitting its deadline, the UK's spending watchdog has warned.

The National Audit Office said that with 39m old-fashioned meters yet to be replaced, there is "no realistic prospect" of meeting a goal of all homes and businesses being offered one by the end of 2020 as planned.