What are your smart meter targets?
We're big supporters of the Government's target to get a smart meter in every home by the end of 2030.
This will help people manage how and when they use energy - saving money, carbon and the planet.
At Octopus, we’re focused on installing and maintaining working smart meters so that our customers get full access to the benefits they provide.
We've been powering ahead with the smart meter rollout - in 2025, we installed well over 1 million smart meters - of which 664,913 counted towards our 938,770 Ofgem target. And in 2026 we’ll be installing even more than that!
The tables below outline our targets (milestones), showing how many smart meters we forecast we’ll install and replace from the second half of 2026 through to 2033. We’ll update them annually.
| Gas | Annual Rollout Milestone | Annual Comms Hub Milestone | Annual SMETS1 Milestone | Annual Operational Milestone |
|---|---|---|---|---|
| 2026 (1 July – 31 Dec) | 120,917 | 0 | 86,050 | 39,729 |
| 2027 | 241,834 | 0 | 259,220 | 99,739 |
| 2028 | 241,834 | 0 | 302,423 | N/A |
| 2029 | 338,568 | 0 | 86,407 | N/A |
| 2030 | 386,934 | 0 | 86,407 | N/A |
| 2031 | N/A | 0 | 72,108 | N/A |
| 2032 | N/A | 0 | 115,313 | N/A |
| 2033 | N/A | 0 | 115,313 | N/A |
| Electricity | Annual Rollout Milestone | Annual Comms Hub Milestone | Annual SMETS1 Milestone | Annual Operational Milestone |
|---|---|---|---|---|
| 2026 (1 July – 31 Dec) | 129,083 | 100,000 | 113,125 | 25,874 |
| 2027 | 258,166 | 200,000 | 340,780 | 70,807 |
| 2028 | 258,166 | 200,000 | 397,577 | N/A |
| 2029 | 361,432 | 600,000 | 113,593 | N/A |
| 2030 | 413,066 | 600,000 | 113,593 | N/A |
| 2031 | N/A | 700,000 | 94,798 | N/A |
| 2032 | N/A | 600,000 | 151,595 | N/A |
| 2033 | N/A | 700,000 | 151,595 | N/A |
Our historical performance is summarised below:
As we welcomed Bulb and Shell customers to Octopus in 2023 and 2024, we have also included their target and actual numbers below:
| 2022 | Overall Target | Gas Target | Electricity Target | Overall Actual | Gas Actual | Electricity Actual |
|---|---|---|---|---|---|---|
| Octopus Energy | 602,829 | 294,842 | 307,987 | 494,519 | 231,616 | 262,903 |
| 2023 | Overall Target | Gas Target | Electricity Target | Overall Actual | Gas Actual | Electricity Actual |
|---|---|---|---|---|---|---|
| Octopus Energy | 627,529 | 310,811 | 316,718 | 423,458 | 203,789 | 219,699 |
| Bulb Energy | 276,748 | 124,678 | 152,070 | 119,804 | 53,056 | 66,748 |
| Combined Group Total | 904,277 | 435,489 | 468,788 | 543,262 | 256,845 | 286,447 |
| Shell Energy Retail Ltd. | 199,728 | 107,153 | 92,575 | 162,171 | 75,962 | 86,209 |
| 2024 | Overall Target | Gas Target | Electricity Target | Overall Actual | Gas Actual | Electricity Actual |
|---|---|---|---|---|---|---|
| Octopus Energy | 531,934 | 282,039 | 249,895 | 490,661 | 239,933 | 250,728 |
| Bulb Energy | 263,872 | 123,705 | 140,167 | 111,612 | 51,808 | 59,804 |
| Shell Energy Retail Ltd. | 150,637 | 89,033 | 61,604 | 20,330 | 9,766 | 10,564 |
| Combined Group Total | 946,443 | 494,777 | 451,666 | 622,603 | 301,507 | 321,096 |
| 2025 | Overall Target | Gas Target | Electricity Target | Overall Actual | Gas Actual | Electricity Actual |
|---|---|---|---|---|---|---|
| Octopus Energy | 938,770 | 533,142 | 405,628 | 664,913 | 294,866 | 370,047 |
We don’t do milestones quietly!
To celebrate our millionth install in 2025, we rolled out the pink carpet for a day of brass bands, celebrities, and (of course) a unicorn:
