Energy prices have been in the news a lot lately, and many people are concerned about their bills. One way that homeowners can reduce their energy rates is by installing smart meters, and by 2020, the aim is that everyone will have been offered a smart meter. One of the main advantage on how Smart Meters works is that these devices have displays that show how much energy you’re using at any one time, how much you’ve spent that day, and what your energy bill is going to be. However, some people still don’t know much about smart meters and how they work, so here’s a short guide.

What can a smart meter tell me?

Different makes and models of smart meters have different information and having one installed, or having a smart meter upgrade can tell you various things about your energy usage. Depending on your model, it may show you information such as:

  • An accurate energy bill figure
  • Where you’re using energy
  • When it’s cheapest to use energy – i.e. when you should use a tumble dryer
  • Tariffs that best suit your usage patterns
  • If you’re on pre-pay, how much credit you have left and when you need to top up

How do smart meters work?

In the past, you’d have to wait to have your meter read, or send it to your supplier to get your energy bill. Smart meters have a secure connection to your utility company, regularly sending information about your usage over the internet. Your home will also have a display, which will show you real-time updates, so if you’ve left a lot of lights on, or have your heating on high, you can see you’re spending a lot and rectify the situation.

Will it cost me anything?

Energy firms are currently installing smart meters for free as part of a national roll-out. The cost of installation is part of your package, and energy companies are saving money by no longer needing people to come out and read your meter. When you switch suppliers, you can usually keep the same meter, as they’re all on the same network, although some older models have technical issues when changing supplier, so in some cases might need to be replaced.

Why are smart meters being installed?

Smart meter installation is a national scheme which the government is investing billions of pounds to complete. There are lots of reasons for bringing the UK’s electrical connections onto a digital network, and they’re helping to upgrade the old system of meter readings and paperwork.

With energy bills on the rise, it’s thought that smart meters could lead to better deals in future. By understanding usage patterns of consumers, energy companies will be able to create more innovative tariffs that could benefit consumers in the long term. We, as the consumer, need to understand how smart meters work and get the most savings out of it.

Connections 2 Energy are based at Suite 18, Link 665, Business Centre, Todd Hall Road, Haslingden, Lancashire, BB4 5HU, and install smart meters across the UK. Find out more by calling 0161 359 59590, or fill in our online contact form and we’ll call you back.

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