Old and outdated gas and electricity meters are being replaced by digital smart meters. The government has informed energy suppliers that they must offer their customers a replacement smart meter with the aim of installing 53 million in small businesses and homes by 2020.
Covering The Costs
Customers will not be forced to have one installed, however, all costs will be covered by the energy industry. Smart meters digitally measure gas and electricity consumption allowing you to see exactly how much energy you have been using and how much it has cost you. This information is also automatically sent to your energy provider, cutting out annoying estimated bills.
The main benefits to energy customers are that you will be able to see exactly how much energy you are using and monitor it daily. Being able to see how much money you are spending, on the specific area of your business, at a precise time of day could end up saving you hundreds, even thousands every single year. The government has estimated that smart meters could save the UK £17bn on our energy bills over the next 15 years. The amount of data that smart meters provide can help us to make much more informed decisions about our usage habits and where we spend our money. Digitisation of the energy market will also increase competition among suppliers, with home and business customers the ones to benefit.
Quick and Easy
As businesses will have greater access to their energy data, energy saving measures can be applied effectively, costs can be cut and switching suppliers becomes much simpler. Ofgem aims to make it as quick as 24 hours when switching.
Effective Utilities can help you take control of your energy consumption by finding you the right solution to suit you and your company, enquire today.