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Smart Meters – Can They Really Save your Business Money?

The revolution in ‘Smart Tech’ around the home has boomed in the past few years. Smart speakers that not only play music, but can answer almost any question it is asked, remind you of appointments and even buy that DVD you keep meaning to pick up.

Smart lighting that will run a bedtime cycle of lowering the lights to help you drift off to sleep, smart home alarm systems and there are even smart fridges that will tell you when you’re low on milk. So if, as a nation, we seem to have embraced even the more obscure side of ‘Smart tech’, then why are homeowners and businesses so reluctant to take up the free offer of a Smart Meter installation and its promise of reduced energy bills?

Creating a smart grid

As of the end of March 2018, just over 11 million households had smart meters fitted, but this pales when compared to the government’s goal of 26 million by 2020 – a figure and date that have since been revised to something a little more achievable. This target though is down to the suppliers to achieve, so expect a big push over the next few months to ensure as many businesses as possible and homes are equipped with the tech. The effort is all part of creating a ‘smart grid’, its aim being to reduce carbon emissions and provide more reliable energy across the UK. Users shouldn’t be put off when it comes to ease of use once fitted; a smart meter collects data every half an hour and sends it to your supplier. This means no more squeezing yourself into the cold dank spot that meters are invariably found to take meter readings every so often. The increase in quality usage data means the supplier knows exactly what you’ve used, meaning you won’t be hit with a badly estimated bill. These estimates can sometimes run in to hundreds of pounds, leaving you out of pocket until the next bill and hampering cash flow for your business. The improvement in data will also allow suppliers to better understand usage patterns and in turn offer more innovative tariffs.


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