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Companies will need to work around the clock to finish installing 53 million smart gas and electric meters in homes by the 2020 target, according to new research by Which?

The study said companies would need to install 24 smart meters a minute for the next three years to meet the deadline of installing one in every home by 2020.

But the current target is not to install one in every home, instead it is to offer one to every home by 2020, according to the Department for Business, Energy and Industrial Strategy (BEIS).

Eight million smart meters have been installed across the UK to date, and a further 400,000 are being installed each month, energy and clean growth minister Claire Perry told Parliament earlier this month, so the wheels of the plan are still very much in motion.

Robert Cheesewright, director of Policy and Communications, Smart Energy GB, said:“It’s crucial we modernise our energy system or we will be stuck in the past, crouching under the stairs with a torch to take meter readings and worrying about the shock of inaccurate, estimated bills.

“We are pleased to see that the survey shows that at least three quarters of people with smart meters say the new technology has met or exceeded their expectations. Energy suppliers are working hard to ensure everyone is able to enjoy the transformative experience of smart meters as soon as possible.”

British Gas has installed the most smart meters of all the suppliers to date (4.5 million) – and it has said it is installing a smart meter every 25 seconds.

A BEIS spokesperson, said: “Energy suppliers’ plans show they intend to double installations in 2018 as large suppliers scale up their operations to provide quick and informative installations of smart meters.”

Alex Neill, managing director of home products and services at Which?, said: “All parties must address consumer concerns and resolve problems, including keeping the roll-out on track.”

Which? also said its research showed those who had smart meters installed were generally positive about them.