29/04/2023
The pros and cons of smart meters – should you switch?
A smart meter can help you keep tabs on your energy usage, but is it better than a regular meter? We take a look at smart meters vs regular meters.
As we look to keep tabs on our energy bill, those who do not have a smart meter may well be thinking about whether they should get one – after all, they haven’t had rave reviews, with many people reporting glitches and inaccuracies in their energy bills.
But on the flipside, they can help you monitor your usage with ease and ensure your direct debit is accurate.
There has been a big push from electricity providers to get households to switch to a smart meter. These display how much energy you consume and where, which could help lower your bills. A recent report from analysts Cornwall Insight also claims that smart meters can support Britain’s energy security, and reduce its dependence on fossil fuels and imported gas.
However, smart meters might not be for everyone – some might choose to stick to their regular meter. If you are considering the switch, it’s worth being aware of the pros and cons of smart meters and what they will mean for your bills.
We explore which is better, a smart meter or a regular meter?
The pros of smart meters
Smart meters could help make your bills more accurate. Your energy use is transmitted to your supplier so they know exactly how much you’re using and what to charge you. This is also more convenient than having to submit your readings yourself every month.
If you get an in-house display alongside your smart meter you will also be able to see your energy use down to the penny. This could help you figure out how much energy you use when you turn on certain appliances, allowing you to discern which ones could be used less or swapped for more efficient models.
A smart meter could also make switching energy suppliers more straightforward. You wouldn’t have to submit a final reading – instead, they get it automatically before the switch takes place.
Before energy prices rocketed, some suppliers were also launching tariffs exclusively for homes with smart meters. So if you install one now, you might qualify for cheaper deals in the future if they make a comeback.
Additionally, customers with a smart meter could get paid to use less energy with a new National Grid scheme. The Electricity System Operator (ESO) will give smart meter customers the chance to earn £3 per kWh by using appliances at night.
Another potential benefit of having a smart meter is that you could be contributing towards the country’s energy security, and reducing our reliance on fossil fuels. According to Cornwall Insight, smart meter customers may change their habits as a result of being able to see how much energy they are using. They may reduce or shift energy usage away from peak periods and lower their overall consumption. This means “they may be able to save money, facilitate additional renewable generation and reduce reliance on imported energy”, notes Anna Moss, senior consultant at Cornwall Insight.
