Smart Meters, Are They Worth It?

smallandcute

I am sure this has been asked before but I am in a leccy only house and needing to get my bills down. Smart provider is showing as my cheapest option but means I need a smart meter, are they truly worth it?

Robin9

Lots of threads on this forum re Smart Meter's.

IMO as to regards saving money just having Smart meters I don't think will save you anything. The IHD will give you some info which you probably know already - kettles, water heating , heating use the most - ; LED lighting possibly the least.

wavelets

smallandcute wrote: »

I am sure this has been asked before but I am in a leccy only house and needing to get my bills down. Smart provider is showing as my cheapest option but means I need a smart meter, are they truly worth it?

You ask whether they are worth it?

How much is the supplier going to charge you to fit the smart meter?

How much savings per year do you anticipate from this particular tariff, compared to the next cheapest supplier & tariff that does not need a smart meter?

Without this information, no one will be able to tell you wither your investment would be worth it.

Edit: Having looked at your previous thread, can you afford it? Or would you have to borrow money to pay for it? How much would you have to pay to borrow the money, it that is the only way you can afford one?

wavelets

Robin9 wrote: »

Lots of threads on this forum re Smart Meter's.

IMO as to regards saving money just having Smart meters I don't think will save you anything. The IHD will give you some info which you probably know already - kettles, water heating , heating use the most - ; LED lighting possibly the least.

If I understood the OP correctly, they are not hoping the smart meter itself will save them money (in fact they are asking if having one fitted will be worth it?), but rather that the cheapest supplier & tariff they can find is one that requires a smart meter to be fitted to take advanatage of it.

The_Fat_Controller

Smart meters are fine, especially if they enable you to get a cheaper tariff.

After all, it's only a meter that talks to a mobile network and an In Home Display.

Using the IHD enables the user to assess what is using the most power and therefore switch off unnecessary devices if they wish, however making the big savings shown on the TV adverts is highly unlikely.

The IHD is useful when you make a mistake as I did, leaving a gas hob burner on after making my breakfast, I wondered why I was still using gas, it could have been on all day if the IHD had not alerted me to my stupidity.

Robin9

wavelets wrote: »

If I understood the OP correctly, they are not hoping the smart meter itself will save them money (in fact they are asking if having one fitted will be worth it?), but rather that the cheapest supplier & tariff they can find is one that requires a smart meter to be fitted to take advantage of it.

Looking again at OP's post I may have read it wrongly.

I do think the industry has a lot to answer for - the message I get from the TV ads - save enough to travel xxxx miles on your mobility scooter by installing a Smart meter I interpret as that's all you have to do but, in reality, the rest is down to you.

Add to that the fiascos of SMET1 and SMET2 and moving into new properties ..........................

AndyPK

If it means you have a lower tariff they are worth it.

Merlin139

smallandcute wrote: »

I am sure this has been asked before but I am in a leccy only house and needing to get my bills down. Smart provider is showing as my cheapest option but means I need a smart meter, are they truly worth it?

If a tariff with a Smart meter is the lowest available then I would probably get one installed.

Getting your bills down will be done by one of 2 ways:

1. A lower tariff

2. Using less electricity

Be aware of what energy you are using and make an effort to reduce that.

The smart meter is just a smart meter and if its only 1st generation may become a dumb meter if you move companies after its installed. You maybe provided with a monitor as shown on most of the adverts. You will then be able to see how much energy you are using at any given moment.

I started to reduce my energy usage around 10 years ago by reading my meter once a week and looking at the devices in the home and started replacing them with more efficient ones as they needed replacing.

I myself will not get a smart meter until they roll out 2nd generation meters that will allow you to change suppliers and keep the meter smart. But to be honest I don't need a gimmick to show me what I am using!

Nick_C

wavelets wrote: »

How much is the supplier going to charge you to fit the smart meter?

Nothing!!! There is no charge for having a smart meter installed (although we are all paying for them whether we have them or not).

I didn't expect a smart meter to save me any money. I don't use the In Home Device - it's packed away in a box. But I do find the information in my account about how much I spent yesterday, last week, and last month has motivated me to be even more frugal than I already was.

PixelPound

It doesn't cost you directly to get a smart meter. Is that tariff open only to those who already have a smart meter, or like EDF, saying you need to be preregistered for a smart meter installation.

I think @Merlin139 sums it nicely - you lower your bills by getting a lower tariff and/or using less electricity. One idea behind smart meters is you see what you are using and it makes you change habits - unplugging TV, etc when not in use.

As I am now a habitual switcher so really don't want to have a smart meter until I know its a second generation, but everyone has their own views on smart meters

wavelets

Nick_C wrote: »

Nothing!!! There is no charge for having a smart meter installed...

That's what I thought, but in that event I don't think I understand the question the OP asks both in the thread title and post#1

smallandcute wrote: »

... Smart provider is showing as my cheapest option but means I need a smart meter, are they truly worth it?

Hence the question to the OP