Smart meters to save power customers £64 each across Wales, report says -
19 April 2013

http://www.bbc.co.uk/news/uk-wales-22205299

But surely if that is a £64 overpayment you get it back either as a lump
sum refund or by a £64 reduction in your payments for the next year.
There is *no* £64 overall saving. All you may have lost is the interest
on £64 but at current *savings*, ie not current account, rates that is
about a quid. More fecking spin...

It also mentions the privacy issues that half hourly or even daily
readings raise.

Warning over smart meters privacy risk - 12 June 2012
http://www.bbc.co.uk/news/technology-18407340

The default should be readings only required for billing purposes. As a
country we have been happy with quarterly readings for a long time... If
people wish to opt in to a higher frequency of reading then that is fine
but only as an opt in. With half hour intervals it would be very clear
when the property is actively occupied.

The bills need to have the reading frequency on them as well, so when you
take over a property you know what you have and can get it changed if
required. I bet there is still a possibilty for the meter to do one thing
and the billing system to think another though.

--
Cheers
Dave.