The UK’s Department for Energy and Climate Change (DECC) are set to announce their preferred bidder shortlist for a series of lucrative contracts.

The contracts for the installation of a smart metering programme are valued at £2.8 billion, with the preferred bidder shortlist set to be announced this Wednesday.

Contracts up for tender include data collection and communications technology programmes that will form the backbone of the new smart metering framework which will be present in every home by 2020.

A DECC spokesman said the department will, “make a statement once contract signature is secured which we expect to be achieved in September”.

Bidders submit offers for UK smart meter rollout