How Smart Meters Can Save You Money

They are still fairly new and are not yet a requirement for UK households, but they may prove beneficial in saving you money and helping electricity suppliers to offer better energy tariffs to its customers, plus switching energy suppliers will be a smoother and efficient process. Smart meters replace an existing electric meter and work similar to an electricity meter except smart meters read and send electricity readings to the energy supplier immediately. They communicate directly with the energy company and no longer require quarterly meter readings. It is thought that smart meters will play the important role in reducing the carbon footprint. The entire programme will be facilitated by Department of Energy and Climate Change (DECC) and managed by Ofgem E-Serve.

How do they Work?

They can work in two ways. Some take advantage of an inbuilt card similar to that in a mobile phone, which sends the readings to an energy supplier. Alternatively, some energy companies are researching how to obtain a meter reading through long-range radio.

Are they Beneficial?

Those with a smart meter will not incur any more visits from meter readings, nor will you have to supply your energy company with a reading through snail male or through an automated machine, which is often how electricity suppliers obtain readings. As the electricity supplier receives the meter reading, they can supply you with an accurate bill.

Will I Save Money Using Them?

Unfortunately not, but some energy tariffs may include computer or energy monitoring software that could save you money. These devices discover how much electricity you are using at specific times during the day or week and you can clearly see which objects use more electricity. This could save you money in the long run, especially by discovering that leaving a television on standby can use up to 80 percent of electricity. They may also aid energy suppliers in offering tailored energy tariffs that better suits your energy usage and lifestyle.

Do they Benefit Energy Suppliers

Yes, by helping the energy supplier run an efficient service. If each company knows the energy requirements of a country and when it is used, the supplier can store the exact energy amount at any given time.

The Smart Meter Plan

It is unclear when smart meters will become available, but there is hope that every UK household will receive a smart meter by 2020. The major project will require a visit to every UK household and business to replace on average 53 million electricity and gas meters.