Doubts Over Smart Energy Meter Benefits Hit U.K. Firm's Stock

Shares in a U.K. company tapping the growing demand for smart energy meters dropped on Monday after a report from a group of lawmakers cast doubt on their financial benefit. The devices, which display how much gas and electricity are being used and automatically send data to suppliers, are now expected to save homeowners an average of 11 pounds ($14.40) a year by 2020, the British Infrastructure Group (BIG) said in a report, down from the previous estimate of 26 pounds. Glasgow, Scotland-based Smart Metering Systems Plc fell as much as 6.5 percent in London.