Smart meters - what is the catch?

dericS · 1 August 2015 at 2:51PM

Official MoneySavingExpert Note November 2017:

We now have a dedicated Smart Meters guide that may be of use.

Back to dericS' original post...

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Hello

I have received 3 letters from my energy provider recently urging me to install smart gas and electricity energy meters. I have done a bit of research on the pros and cons and actually think the idea is a rather good one. I like the notion of 'saving' by isolating the times when usage is heaviest and targeting ways of reducing consumption (or changing my habits to use energy at cheaper times).

However - there are several concerning 'cons' to this which I wanted to get other views on - specifically, the notion that energy companies can save costs by being able to remotely read meters - not in itself a bad thing - but will these cost savings be passed on to the consumer? Additionally, I am disturbed by the prospect that energy companies could tailor our bills so that they could charge us more for heavy usage even when we are not using the energy at peak times.

I'd be interested to hear what others think of smart meters, whether anybody has already installed them (and what savings have you made?!) and whether it really is a viable option to revert back to the existing meters if smart meters do not work for you?

Thanks for your thoughts.

[Deleted User] · 1 August 2015 at 3:34PM

I ve got smart meters, the novelty of the in house display showing usage in hard cash soon wore off and like most people, its now stuffed away in a cupboard. I agree that the suppliers are the main ones to benefit as they raise their overall profits by not employing people like me to be knocking on your door to disturb you and traipse into your house.BG s profits for instance are now at record levels , over £500 mill in the first 6 months of this year so I think they should be waiving the daily standing charges or at least reducing them from a high 25 p daily for people who have taken their smart meters. We all pay daily standing charges some of which is towards the cost and upkeep of the meters .If charges for peak period usage do eventually come in, people with dumb meters or refuseniks will be getting an estimated peak period charge. It could nt work if they just targeted smart meters.
Other pro s..fit and forget exact direct debits, no readings to imput, no meter readers getting your dog excited and waking you up. Cons..if you believe the loonies...wifi waves coursing through your skull along with all the other wifi stuff we all seem to be getting nowadays. The electric meter pulses off a reading to the server once an hour, the gas meter just sends its reading to the electric meter a small distance once a day, and then onto the server.
Plenty of people have had their new smart meters ripped out and prepayment meters ( non smart ) put in to collect debt.Smart prepayment meters are on there way soon for the big 6 and Ovo and Utilita run the Liberty Secure meters which I hope BG don t select when they start fitting them..too baffling to use manually when they go wrong

Sterlingtimes · 1 August 2015 at 6:06PM

Good

[1] Accurate measurement of import and export kWh and some other instant interesting data.

[2] Fewer meter readers.

[3] For Ovo, time related data presented graphically on a computer screen. Include reading remotely from the home via the web.

[4] Future tariff options. Better management of electricity distribution for the nation. Power conservation.

Bad

[1] For solar users lost of 50% deemed export related to FIT payment. Not immediately apparent difficulty.

[2] Possibility of meters not talking to the energy supplier.

[3] Potentially problematic with supplier transfer.

[4] Difficulty if supplier goes into liquidation.

[Deleted User] · 1 August 2015 at 8:39PM

I won't switch to smart meters until forced to by law. I keep getting hassle from British Gas (electric only) to have a smart meter fitted.

Surely they would still have to send a meter reader round once in a while as I was once lead to believe it was the law, to check if the meter was still 'safe'. Not like a meter reader actually checks other than looking at the meter reading.

I've not let a meter reader in for years, usually out when they come anyway. I once let one in by accident as I thought it was the parcel man at the door, he left mud on my carpets.

Laurensalive · 1 August 2015 at 8:51PM

I will not change to smart meter until I am forced to have one .I do not want one. I am not convinced that my information is safe.

It has taken me over 5 mins to get back on this site to edit this. Gremlins still tonight.

[Deleted User] · 1 August 2015 at 9:55PM

Laurensalive wrote: »

I will not change to smart meter until I am forced to have one .I do not want one. I am not convinced that my information is safe.

It has taken me over 5 mins to get back on this site to edit this. Gremlins still tonight.

A prime example of why the smart meter roll out should be dumped.Giving people like this. the choice , was the big mistake.The MP s who voted for smarts being optional knew not what they were doing.It should have been left up to the local DNOs to fit them with no options, anyone who did nt like one could have the choice, electricity or no electricity its your choice take it or leave it.
Funnily enough, that choice will soon be coming for people with old gas meters who wont allow their fancy fitted kitchens to be dismantled to fit a new metric meter when the meters are tucked away in corners of kitchens. A National Grid manager I met said eventually they would have no option but to shut the gas supply off on Health and Safety grounds when the meters pass the 25 year mark

[Deleted User] · 1 August 2015 at 10:00PM

Deleted_User wrote: »

I won't switch to smart meters until forced to by law. I keep getting hassle from British Gas (electric only) to have a smart meter fitted.

Surely they would still have to send a meter reader round once in a while as I was once lead to believe it was the law, to check if the meter was still 'safe'. Not like a meter reader actually checks other than looking at the meter reading.

I've not let a meter reader in for years, usually out when they come anyway. I once let one in by accident as I thought it was the parcel man at the door, he left mud on my carpets.

Why are you getting "hassle ", ? its enshrined in law from our government that you can take it or leave it.Once the supplier receives your opt out, thats it .However they will still hassle you to fit a normal dumb meter and you have to let them fit it.

Kim_kim · 2 August 2015 at 8:10AM

I think it's great that they can read themselves, or rather send the info back.
I'm never in day times to get my meter read. I'm sure most people aren't.

spiro · 2 August 2015 at 8:20AM

On the option of opting out, whatI suspect will happen once there is a high percentage of smart meters is those who don't will be charged a meter reading surcharge.

Robin9 · 2 August 2015 at 8:42AM

Even with Smart Meters you must check the bills you receive - do not assume the meter is communicating with your supplier. Mine packed up and I got an estimated reading for a couple of months - it was quickly rectified with a site visit.

brewerdave · 2 August 2015 at 9:20AM

The major difficulty with smart meters currently, is their lack of portability.If,like me, you switch fairly often it seems pointless to have them installed when the eg EON meter won't talk to EDF.
Having had my leccy meter changed fairly recently (6 months ago) I asked the fitter whether he was fitting many Smart meters. He said that he hadn't fitted any!

Smart meters - what is the catch?

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