Save Money With Smart Meters

Posted by lee on January 31st, 2021

Smart technology is becoming more and more ever-present in our modern-day lives. We order food through our Alexa device, We listen to music through our smart speakers and watch television through our Smart TVs. Even our motor vehicles are getting smarter.

In the UK Smart meters are the new technology, The smart meter scheme is being rolled out by the government who want every home to have a smart meter within the next 5 years.

When you replace an existing analogue meter it will be replaced with a smart meter and you can even request to get one fitted even without any issues with your analogue ones.

Gas and Electric smart meters work like this. They are attached to your existing meter connection points and wirelessly collect all the data you and your energy provider would need. They send this data to your energy supplier without you having to do anything which means no more meter readings for you.

You will also have an LCD display in your kitchen which will give you a real-time display of how much energy you are using when doing certain things such as cooking or turning on the TV or kettle.

There are however smart meter pros and cons you need to be aware of.

Smart meter Pros

1. No more meter readings (Always a bonus)
2. Over time because the readings are more accurate you will get more accurate bills which means you will effectively save money over time.
3. You will save more money as you will learn to adapt the way you use energy based on the data you see on your meter.
4. If you have pre-paid meters you can easily see how much gas or electric you have left and then can top up your energy online and see it go on live.
5. No initial payment for a smart meter as the cost will come out of your bills over the next few months.
6. You will be able to analyse your energy data and compare it against the national average, this means you will spot if there are any problems such as a leak or boiler issue.

Smart meter cons

1. Most smart meters cannot be switched to a different provider without causing issues. This will probably become less of an issue in the next few years but at the moment if you switch on a regular basis then this can be a problem.
2. You are sharing your data with the energy company and this could be a problem for you if you like your privacy
3. You the user needs to actually change the way you use energy to save enough money to make it worthwhile.
4. Once your smart meter is fitted there is no way you can change your mind and swap back to analogue so make sure you are certain before having this done.

Smart meters are a good thing and I am having mine fitted in a week or two. If you need further advice then the energy companies have plenty of data on their website for you to check.