Has anyone actually saved money after installing a smart meter?

Charlton_King · 25 April 2018 at 2:10PM

I've just received an email from my supplier saying that 'my' new smart meter (which I haven't ordered) is coming and please to pick an appointment.

Reading up about this, I see that many suppliers are trying to make smart meter installation sound like a legal requirement when it isn't.

I'm not a Luddite and am more than happy to do what I can to save the planet...

... but it would be nice to know that one of the principal claims made - that you can identify wasteful consumption and cut down on bills - is actually true. I am not particularly interested in helping energy companies increase shareholder dividends via the wholesale sacking of meter readers if I too cannot benefit.

Is anyone here able to say confidently that this claim is true in their case? Just seeking confirmation.

[Deleted User] · 25 April 2018 at 2:23PM

The smart meter just tells you how much energy is being used. Just like a normal meter if you take readings from it yourself.
Not where it is being used.
So for gas, it will normally be heating and/or cooking. So easy to spot which one uses the most gas and then you can figure out what to do (if anything) to reduce consumption. I'm not freezing to death to reduce my gas bill.
But for electricity, you could have a few dozen devices consuming it, so good luck finding how much each device is using.
So no, it cannot save money, only you can do that by turning things off or down.

There is a 21 page and growing thread on smart meters with no definitive answers at https://forums.moneysavingexpert.com/showthread.php?t=5736826

[Deleted User] · 25 April 2018 at 2:23PM

A smart meter can not save you money, full stop.

Only changing your usage and/or appliances will do that and you don't need a smart meter to do that.

wild666 · 25 April 2018 at 2:28PM

I sort of did then after a few weeks moved onto BG free time and decided to hit the thing whenever the free time was in action. I would rather sit with a hot water bottle now as I moved supplier just before the end of the contract but the first month's bill was over £240 as the way BG did the bill was two separate figures one for the non-free time hours and another set for the free time hours.

As my new supplier wasn't putting the monthly bills online for me to check I only noticed yesterday that my new supplier had used the first of the two readings and not added the two readings together to give the total on the meter. This resulted in the £240 bill that I disputed. If I don't hear back by the 20/6/18 then Ofgem will be involved.

Carrot007 · 25 April 2018 at 2:28PM

However if it's the planet you care about it will save the supplier money and resources. (in the long run, as long as you don't change supplier of get a smets2 one).

wild666 · 25 April 2018 at 2:36PM

Smart meters are optional so if you don't want one installed just ignore it. If they just turn up and say it's the law ask for a copy of the book that says so, they will just leave.

Carrot007 · 25 April 2018 at 2:50PM

wild666 wrote: »

Smart meters are optional so if you don't want one installed just ignore it. If they just turn up and say it's the law ask for a copy of the book that says so, they will just leave.

Or if you care about the planet again juts tell them you are not interested so they save resources in not bothering you about it again.

frugalmacdugal · 25 April 2018 at 2:59PM

Hi,

smart meters are not to save you money, but to save you getting estimated bills, you can also supply readings if you set up an online account.

Carrot007 · 25 April 2018 at 3:09PM

frugalmacdugal wrote: »

Hi,

smart meters are not to save you money, but to save you getting estimated bills, you can also supply readings if you set up an online account.

Or answer the question asked tather than thing boring usual vomit.

It could help you indentify when you are using more than you should as you will be able to look at nice graphs or when you used things if you opt for HH logging. That's could, but you obviously might be 100% efficient and have nothing to cut.

And yes t he planet will be betetr off by saving expence for the supplier needing to check it is still working and advancing less, though they will still want a visual check now and then.

Next person please regurgitate to vomit.

[Deleted User] · 25 April 2018 at 3:10PM

"The Department of Energy and Climate Change (DECC) believes the technology will enable customers to learn more about how much power they use and so work out how to cut their bills.

It estimates bills will fall by £26 a year by 2020 and £43 a decade later as consumers cut their electricity usage by 2.8 per cent and gas by two per cent.

But an early study of 743 Dutch households with the meters found they only used 0.9 per cent less gas and 0.6 per cent less electricity than those with old meters.

The European Commission itself has pointed out that of the 19 EU countries that have carried out an analysis of the likely costs and benefits, five have concluded that electric smart meters will lose money and three are not introducing the scheme. For gas smart meters, 12 of the 19 countries ended up with ‘negative’ results."

System · 25 April 2018 at 3:19PM

jack_pott wrote: »

It estimates bills will fall by £26 a year by 2020 and £43 a decade later as consumers cut their electricity usage by 2.8 per cent and gas by two per cent.

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Sadly, they know that the above statement is not true. Energy costs will continue to rise year-on-year. What they are actually saying is that energy bills will be less than they might have been (by £26 a year in 2020) IF the energy % savings are realised. If not, then the assumed savings will be lower. The irony here is that energy bills are already less than they might have been because consumers are installing LEDS and replacing old appliances with more energy efficient ones. These savings have nothing to do with smart meters.

All that said, time will tell as to whether Time of Use tariffs will result in lower energy bills. This hasn't been the case in many other countries as the kids still want their tea before the off peak tariff kicks in etc.

Has anyone actually saved money after installing a smart meter?

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