'Smart meters will save consumers just £11 a year' - MSE News

MothballsWallet

AndyPK wrote: »

The latter. We would all save much more than £11 a year if they cancelled the SM programme. But then we would have to pay for new power stations. I guess they aren't cheap either. :eek: And less environmentally friendly.

We could always replace the seats in Westminster with exercise bikes connected to generators to feed the grid: then all those moronic politicians can make themselves leaner and useful by generating power while they're shouting at each other across the House(s)....

badmemory

Of course we could actually also ask ourselves if the energy companies really want us to reduce our usage & if we do we should know it is not going to save us any money. If we reduce our usage by say 10% then their profits will also go down & they will need to increase prices by 11% to compensate. They are already banging up the standing charge. Remember their shareholders and board of directors need their pound of flesh & it is us they will have to get it from!

AndyPK

If uou Read the report is says that in Canada they put peak prices up by 7 times. People still didn't change their habits!!

We won't get this until 2020

Norman_Castle

How much insulation would £11 billion buy, wouldn't that be more cost effective?

jcontest

Smurfy84 wrote: »

Just £11 works out to many millions a year in savings over the entire country, When an energy supplier put their prices up by an average of £30 a year you don't use the word just, you use words like hike. There is just no pleasing some....

Okay, You seem good with numbers.
£420 cost for smart meter
£11 savings per year


Every time you change supplier currently you get a new smart meter (at another £420 cost).



Meters will naturally get changed every 10-20 years.


SMETS1 meters are outdated and as such you can request a replacement once SMETS2 rolls out.


So...



assuming no inflation or whatever, and 15 years to new meter.

1st year - £409 in the red.

10th year - £310 in the red.
20th year - £354 in the red.
30th year - £398 in the red.
40th year - £288 in the red.
50th year - £332 in the red

253 years - £409 in the red.


So yea... Some people are unhappy. Basically every person in the UK will pay an extra £17 every year forever and much of that will go to Centrica (Meter Installs) and Capita (SmartDCC).


If you really still like the idea of it all then I can help you save £110 off of your bills each month, just pay my monthly admin fee of £170.

thorganby

The real driver for smart meters is that they will allow energy companies to introduce "surge pricing", one of Britain's biggest gas and electric providers has recently admitted for the first time.

New tariffs will mean the price of energy fluctuates every half an hour will be introduced as soon the energy regulator has given them the green light, Scottish Power told the Telegraph.

The controversial tariffs rely on smart meters and will radically change the way households consume energy, leading to them paying more for watching television, charging gadgets and running the washing machine during popular times such as in the mornings and evenings.

So rather than saving customers any money, energy prices for customers on such tariffs will peak on special events like Christmas Day and Easter when millions of households are using electricity or gas at the same time or whenever they choose!

bri160356

thorganby wrote: »

The real driver for smart meters is that they will allow energy companies to introduce "surge pricing", one of Britain's biggest gas and electric providers has recently admitted for the first time.

New tariffs will mean the price of energy fluctuates every half an hour will be introduced as soon the energy regulator has given them the green light, Scottish Power told the Telegraph.

The controversial tariffs rely on smart meters and will radically change the way households consume energy, leading to them paying more for watching television, charging gadgets and running the washing machine during popular times such as in the mornings and evenings.

So rather than saving customers any money, energy prices for customers on such tariffs will peak on special events like Christmas Day and Easter when millions of households are using electricity or gas at the same time or whenever they choose!

Any time-scale as to when that is likely to happen? :eek:

brewerdave

bri160356 wrote: »

Any time-scale as to when that is likely to happen? :eek:

Virtually EVERYONE will have to have an interoperable SMART meter for this to work -and the centralised data collection system will have to be 100% up and running -so I'm guessing 2023 at the earliest!!

AndyPK

From what I have read no one will be forced to go on a TOT.


It will be available from 2020 like economy 7 is now.
And in other countries It didn't make a difference to peoples usage!

SuiDreams

They need to completely halt the roll out until they the whole programme is sorted. A smart meter won't cut my energy usage I know exactly what I use and when. I've already cut my usage to 2 - 3.5 KWH/day. When I use my electric is never going to change I work full time so don't have the choice of when I use it.