This article explains what a Smart Meter is, how it works, how they’re installed and how they can help you to reduce your business energy spend.
Smart Meters are a great tool to help reduce your business energy bills. Another way to do this is by switching energy contracts. For more information, fill in the form.
A Smart Meter is an electronic energy meter that automatically sends your readings to your supplier using wireless technology. They come with an in-home display screen, to show you exactly how much energy you’re using. Smart Meter features include:
A Smart Meter is made up of three components:
You can view in near real-time how much energy you have used and your supplier can provide you with more accurate bills.
If you’re interested in having a Smart Meter installed at your business premises, follow the steps outlined below:
Your Smart Meters will need to be installed in the same location as your existing meters, so you’ll need to clear this area before your installation appointment.
The engineer will carry out the meter fitting. Installation typically takes about an hour per meter - with gas and electricity requiring separate meters.
It can also help to keep the following information in mind:
Smart meters can be a great way to control and monitor your energy costs. Here are some of the key benefits:
Technically, no. While there is no direct, upfront cost to you, smart meters are not free. The installation costs that suppliers incur from installing smart meters are recovered through a slight increase to the price of your energy bills.
Ofgem predict that this cost will only amount to roughly £100 a year, and the money that you’re likely to save due to more accurate billing should cover this cost. By 2020, the cost of smart meters will be entirely paid off, leaving you to benefit from more accurate billing and lower energy costs as a result.
Smart Meters send readings to your supplier automatically. You can view these readings from your smart energy monitor.
Each model of a smart energy monitor functions slightly differently, so you should consult your user guide for further information.
Following lengthy consultations with the energy regulator Ofgem, the Government decided the rollout of Smart Meters will achieve the following goals: