With the cost-of-living crisis in full swing and (further) energy price hikes set for October 2022, most of us will be considering ways to save money and cut costs in bills and spending. The instillation of a smart meter in your home may help you do just that.

What is a smart meter?

A smart meter measures how much gas and electricity you use in your home. It uses advanced technology to give you real-time updates with increased accuracy, and when installed, will replace your old energy meter.

SMETS1 is the name for the first generation of smart meters and SMETS2 refers to the second, most recent, generation of the technology.

What are the advantages?

• Increased accuracy – the smart meter clocks exactly how much energy you use, and where you’re using it.
• No more estimated bills – your monthly payments will be precise, rather than an estimate made on assumed usage.
• No more monthly meter readings – your electricity provider receives accurate meter readings straight from your smart meter.
• Money saving – smart meters are a tool that you can use to facilitate changed behaviour and different habits. If, for example, you notice that your bills increase when you use certain appliances, you can make adjustments.
• Helps the environment – if you do make changes to lessen your energy consumption, this will reduce your carbon footprint, which will have a positive impact on the environment.
• Free installation.
• Access to better energy deals – many suppliers favour smart meters and offer exclusive tariffs to homes with smart meters.

What are the disadvantages?

• Reducing bills requires action – smart meters will not reduce bills alone; it is simply a tool. You must: a) pay attention to your smart meter readings, and b) make adjustments to the way you consume energy, to save money.
• Tech fallibility – as with most tech, smart meters are not immune to glitches. If your smart meter ceases to work, readings will simply revert to your original meter. This can be annoying (and extra admin) but not the end of the world.

The government has been on a mission since 2020, to offer each household across the country a smart meter in an effort to cut their energy bills and carbon emissions. Individuals are, however, under no obligation to accept a smart meter. To find out more about smart meters, visit simpleenergyadvice.org.uk.

For all your energy-related needs, contact the team at AACooper on 01689 485007 or info@aacooper.co.uk