Understanding Smart Meters

ACT, General Energy Info, NSW, QLD, SA, VIC

Understanding Smart Meters

Understanding Smart Meters

Most of the things now are more advanced as we live in modern days. In transportation, appliances, gadgets including electricity meters installed in your properties. You usually have Analog meters which need a field technician to manually read your energy consumption. Thanks to whoever developed the Smart Meters now, work is much easier.

Some of the consumers took time to adapt to this change. Maybe because they are used to Analog meters as they used it for years. In this article, we will help you to understand more about smart meters and why they moved towards them.

 

Quick Facts

Smart Meter is a digital electricity meter that record electricity usage (per kWh) every 30 minutes. The information will be directly sent to your meter service provider for billing.

Smart Meters are now the most advanced electricity meter in Australia. It is the standard electricity meter in Victoria due to a mandatory roll out but less common in other states. However, since December 2017 all consumers require to replace and install smart meters.

 

Why should I switch to a smart meter?
  • It shows more detailed energy consumption and solar PV export data compared to the old Analog Meters. You can use these details as a guide on lowering your energy bills.
  • It allows you to connect or disconnect remotely, avoiding delays when moving or swapping energy retailers.
  • Better monitoring of electricity supply as electricity distributors can now more easily notice when a property is not receiving an electricity feed, including power outages.
  • You can have a wider range of payment and pricing options, such as flexible or time-of-use pricing.
  • It has a lower connection fee for around $5 only compared to $20-$25 with traditional meters.
  • You can ask professionals to analyze the data so you find cheaper energy plans.

 

How do Smart Meters work?

Smart Meters track your energy consumption use and share this information with you via an in-home display or app. It sends a regular reading to your energy supplier wireless.

Each supplier’s Smart Meter might be slightly different in the feature but it commonly shows:

  • Time and date displayed
  • Electricity and gas you consumed in kilowatt hours in the last hour, week, month
  • Amount of energy you’ve spent is visible and updated every half an hour, every day.
  • Energy sent to the grid which displays in kWh if you have a solar system.
  • Some Smart Meters allows you to set energy goals for reducing energy consumption

 

Pros and Cons of Smart Meter
PROSCONS
No more estimated billsCosts outweigh savings
Clearer energy usageRoll out is behind schedule
Increased energy efficiencyThere are compatibility issues
Visibility of dynamic and time-of-use tariffsPotential data protection concerns

 

How can I get a smart meter?

Your energy supplier is responsible for installing a smart meter. If you are the account holder of the energy bills, you are automatically entitled to one. Here are four easy steps to get yours:

  1. Contact your energy company and inquire how you can change to a smart meter or visit their website.
  2. When your energy company is ready to install your smart meter, they will call or email you to arrange the scheduled time when the technician can visit you to install your smart meter.
  3. A professional technician will visit your house and install your smart meter on the said schedule.
  4. After the installation, the technician will explain to you how your smart meter works.

 

How can a smart meter save me money?

There’s no solid evidence that smart meters will cut your energy bills however, it gives you an opportunity to track your energy spending on an hourly basis. High energy use times (peak) are weekday mornings, afternoon and evening. While low energy use times (off-peak) are overnight when most of us are sleeping. If you shift your energy use during off-peak times which the rates are lesser and with the hourly energy spending data from your smart meter you can plan a “smart” way on how to efficiently consume energy for you to save money.

But if you want to save money without a doubt, switch to energy retailer that can offer you very competitive energy plans.

 

 

Visit Econnex for more details.

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