Smart Meter

teecee90
teecee90 Posts: 106
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edited 3 January at 2:47PM in Green & ethical MoneySaving
I'm currently with British Gas and they are constantly trying to get me to have a smart meter. 

We have a 4kW solar PV system with iBoost installed in November 2015 and receive the relevant FIT payments with 50% deemed export. No battery storage and no EV.

I've resisted having a smart meter so far because of the all the reported problems with the early versions of the meters. Is there any advantage/disadvantage to having a smart meter at this stage? Will I be forced to move from deemed to actual export and if so, is it likely to make much difference?

Thanks
4kW 8.33 Eternity (2.5kW SSE 1.5kW WSW). Glinton, Cambridgeshire.

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  • QrizB
    QrizB Posts: 13,630
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    edited 3 January at 5:18PM
    teecee90 said:
    I've resisted having a smart meter so far because of the all the reported problems with the early generation meters.
    Smart meter problems were IMO over-stated in the interests of getting clicks onto red-top newspaper websites. The early SMETS1 models didn't always switch gracefully between suppliers, but the SMETS2 models which came in 4-5 years ago are mostly trouble-free.
    Yes, you'll still hear of problems but there are 30+ million of them installed and they can't all be problem-free.
    teecee90 said:
    Is there any advantage/disadvantage to having a smart meter at this stage? Will I be forced to move from deemed to actual export and if so, is it likely to make much difference?
    You probably won't be forced onto metered export, but it might be beneficial.
    Your FIT pays 6.79p per kWh for half of the kWh you generate. With a 4kWp system, you should be generating around 4000kWh per year and being paid £136 a year for export.
    No-one knows exactly how much you actually export, as you don't have an export meter, but (despite your iBoost) it could well be more than 50%. But let's assume it's only 30%, 1200kWh a year. With a smart meter you can choose a paid export tariff. A popular option is Outgoing Octopus Fixed, which currently pays 15p/kWh for export. Your 1200kWh could be earning you £180 a year, and extra £54.
    And of course if it turns out that you're really exporting 60% of generation, those 2400kWh would be worth £360.

    Edited for typos.

    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
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  • teecee90
    teecee90 Posts: 106
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    Many thanks for the helpful response.
    QrizB said:
     With a smart meter you can choose a paid export tariff. A popular option is Outgoing Octopus Fixed, which currently pays 15p/kWh for export. Your 1200kWh could be earning you £180 a year, and extra £54. And of course if it turns out that you're really exporting 60% of generation, those 2400kWh would be worth £360.
    If I moved energy supplier from British Gas (also my FIT provider) to Octopus would I also need to move to them as FIT provider, or can the export payments and FIT payments be separated?

    Thanks
    4kW 8.33 Eternity (2.5kW SSE 1.5kW WSW). Glinton, Cambridgeshire.
  • paul991
    paul991 Posts: 348
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    edited 3 January at 9:40PM
    no  Fit and  Energy supplier are different so no need to change that although Octopus are very good  Fit providers
  • Reed_Richards
    Reed_Richards Posts: 3,979
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    edited 4 January at 12:05AM
    teecee90 said:

    If I moved energy supplier from British Gas (also my FIT provider) to Octopus would I also need to move to them as FIT provider, or can the export payments and FIT payments be separated?

    Your FIT has two components, a payment for generation and a payment for export.  I think these two components must come from the one provider.  The provider that pays you for generation also has to pay you for export, either deemed export or metered export.  But, as per the previous response, your energy supplier does not have to be your FIT provider.

    Edit:  I have crossed out my comment as I'm told it was incorrect
    Reed
  • pete-20-11
    pete-20-11 Posts: 529
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    teecee90 said:

    If I moved energy supplier from British Gas (also my FIT provider) to Octopus would I also need to move to them as FIT provider, or can the export payments and FIT payments be separated?

    Your FIT has two components, a payment for generation and a payment for export.  I think these two components must come from the one provider.  The provider that pays you for generation also has to pay you for export, either deemed export or metered export.  But, as per the previous response, your energy supplier does not have to be your FIT provider. 
    nope, you can have generation with one company and export payments with a different one. I had FIT with British Gas, moved just the export part to Octopus.
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