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Energy Supplier EON to Pay £7 Million Over Advanced Meter Failings

German energy supplier EON SE is to pay 7 million pounds ($10.55 million) after failing to supply advanced electric meters to British business customers, the U.K. regulator said in a statement.

Ofgem said the company would pay the money to the Carbon Trust after it supplied less than 65 percent of the meters by an April 2014 deadline.

EON also agreed to pay another 7 million pounds if it fails to meet the new interim target.

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