A smart meter is a device with a digital two-way communication system that measures when you use electricity and how much.
It records your energy use in at least 30-minute intervals and transmits the information to your retailer daily. Your retailer can read the meter remotely.
In contrast, a traditional, manual read meter only records your total electricity use. You are typically sent a bill every three months or so.
Retailers are gradually replacing manual read meters with smart meters. Some retailers have an active meter replacement program in certain areas. If there is nothing wrong with your existing meter, it could be some time before it is replaced, unless you seek out a new meter. If your meter is faulty or stops working, your retailer must replace it with a smart meter.
Advantages of having a smart meter
You will see lower fees and charges:
- Smart meters send information to your retailer digitally. This type of meter does not need to be read manually. This cuts out meter reading fees and charges.
- Connections and disconnections are cheaper. A smart meter can be turned on and off remotely when you are moving in and out without the need for a technician to visit your property.
More accurate, transparent and reliable:
- Estimated meter readings are a thing of the past. With a smart meter, you are charged for the exact amount you use.
- You can access detailed, real-time information about how much electricity you use. This helps you work out how to save money on your bills. Many electricity retailers have online platforms and apps that show your usage in graphs and charts.
- Smart meters can quickly identify electricity supply outages and notify your electricity distributor. This means faster repairs.
Flexible pricing and monthly billing options:
- With a smart meter, you can get a plan which has different electricity prices for different times of the day. For example, you can save money if you use less energy in peak periods.
- Traditional meters are read every three months. This limits options for monthly billing.
- You need a smart meter to install solar panels and batteries.
Make money by exporting excess electricity to the grid.