Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Charlton King
    • By Charlton King 25th Apr 18, 2:10 PM
    • 1,543Posts
    • 1,043Thanks
    Charlton King
    Has anyone actually saved money after installing a smart meter?
    • #1
    • 25th Apr 18, 2:10 PM
    Has anyone actually saved money after installing a smart meter? 25th Apr 18 at 2:10 PM
    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.
Page 2
    • savemoney
    • By savemoney 25th Apr 18, 9:11 PM
    • 12,878 Posts
    • 11,491 Thanks
    savemoney
    Nothing smart about a so called smart meter same as smart tv's over used word implying something is smart when its anything but
    • Michaelw
    • By Michaelw 25th Apr 18, 10:18 PM
    • 148 Posts
    • 46 Thanks
    Michaelw
    It has not saved me any money whatsoever,the only way to do that is switch energy supplier.Its noted now that suppliers are saving the best deals for those with these meters.The only use I can tell if a fridge exe goes faulty then you can see a high usage.
    • tonycottee
    • By tonycottee 16th May 18, 10:19 AM
    • 1,085 Posts
    • 2,074 Thanks
    tonycottee
    I gave up with my smart meter as it saved me nothing. And I!!!8217;ve switched suppliers since anyhow.
    • PennineAcute
    • By PennineAcute 16th May 18, 1:36 PM
    • 84 Posts
    • 25 Thanks
    PennineAcute
    My smart meter is now dumb, however, seeing my daily kWh increase which has enabled me to save. Before, if I had a shower, I had a shower. Now, I am in and out, as I can see how much my shower uses.

    You can only cut to a certain level though, and I will not cut down on my enjoyment, just to save money. So I still have my couple of hours a day on PS4, etc. But my IHD has shown me how much this is costing me.
    • Scatty
    • By Scatty 16th May 18, 3:52 PM
    • 71 Posts
    • 10 Thanks
    Scatty
    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.
    Originally posted by wild666
    Ugh I have this exact same problem for virtually the same amount. Luckily I have a chat transcript and my final BG bill so have put in a complaint. Like you, if I don't hear back I shall be taking it further!
    Woohoohoohooooooooo
    • brewerdave
    • By brewerdave 16th May 18, 4:30 PM
    • 4,841 Posts
    • 2,013 Thanks
    brewerdave
    I saw a new (??) advert today for smart meters - if I remember correctly,according to that BEIS are saying the average consumer will save 2% or 354 kwh pa.
    • NineDeuce
    • By NineDeuce 16th May 18, 4:44 PM
    • 824 Posts
    • 753 Thanks
    NineDeuce
    If you have a bit of sense to read a meter when you should then no, you wont immeditately save money.

    You will save a bit without realising because it would cost more to maintain human meter readers so you wont see a reduction in costs, just will avoid future increases on this aspect.

    If you dont read your meter, because you only take energy seriously when your energy supplier 'unfairly' lands you a bill you dont want to pay, then yes, a smart meter will save money, because it will have read your meter for you when you move out whereas the person who doesnt care about having 3 years of over-estimates wouldnt
    • gsmlnx
    • By gsmlnx 16th May 18, 7:24 PM
    • 856 Posts
    • 680 Thanks
    gsmlnx
    You will save a bit without realising because it would cost more to maintain human meter readers so you wont see a reduction in costs, just will avoid future increases on this aspect.
    Originally posted by NineDeuce
    I would like to see your maths on this.
    The company running the Smart Meter data reading program for the financial year 2017 billed all UK consumers for 350m. https://www.smartdcc.co.uk/media/433052/dcc_annual_report_and_regulatory_accounts_31_march _2017.pdf
    And only 300 odd meters are actually officially live (you know the ones that can be switched between any supplier) so where they spent that 350 MILLION I would love to know. Just in that single year.
    You could employ a lot of meter readers for that money and let's not forget this cost will only ever increase as more meters are installed.
    • Hengus
    • By Hengus 16th May 18, 7:44 PM
    • 5,726 Posts
    • 3,511 Thanks
    Hengus

    You will save a bit without realising because it would cost more to maintain human meter readers so you wont see a reduction in costs, just will avoid future increases on this aspect.
    Originally posted by NineDeuce
    The smart meter cost/benefit analysis assumed a saving of 3 per meter reading; however, this saving has already been taken as Ofgem dropped the requirement to formally read meters in April 2016. Suppliers just have to obtain a meter reading once every 12 months. The regulations no longer say how this has to be obtained.
    • Hengus
    • By Hengus 16th May 18, 7:49 PM
    • 5,726 Posts
    • 3,511 Thanks
    Hengus
    I saw a new (??) advert today for smart meters - if I remember correctly,according to that BEIS are saying the average consumer will save 2% or 354 kwh pa.
    Originally posted by brewerdave
    Someone is telliing porkies. The savings were reduced to 11 per year some time ago. That equates to less than 100kWhs.

    https://www.which.co.uk/news/2016/11/smart-meter-estimated-savings-slashed-as-roll-out-costs-increase-456952/

    This is why Germany has decided to limit the roll out smart meters to electricity users who consume more than 6000kWhs/year.
    Last edited by Hengus; 16-05-2018 at 7:51 PM.
    • Norman Castle
    • By Norman Castle 16th May 18, 7:51 PM
    • 6,949 Posts
    • 5,711 Thanks
    Norman Castle
    Your smart meter could save you money. If you don't already have a good idea of how much electricity each of your appliances and gadgets uses the energy monitor thingy (most energy companies refer to them as In Home Displays) that comes with the smart meter can tell you in real time. Switch something on and just read off the display how many watts it is using. The one I've got reads down to single watts.


    You can then work out how much electricity leaving things on standby and not switching off lightbulbs uses. Or other less obvious things you might not have thought much about like how much more electricity it takes to watch a film on your TV compared to your laptop. Or running a hotter wash cycle on your washing machine. Whether you then decide if the savings are worth it for the planet and your pocket is up to you.
    Originally posted by Lord Bob
    I've got a plug in monitor which will be more accurate. Trying to measure a wash cycle or a fridge with a smart meter will be very difficult as the meter will show overall usage of everything being powered. How do you separate them?


    I think my plug in monitor has saved me money by identifying high consumption of some items but it also highlights how little some items use. This information allows me to make an informed choice on whether using something is worth it to me.

    A minority of people given accurate usage costs will benefit but as smart meters often cannot separate items they have limited use. I suspect the vast majority of people will have little understanding or interest in the information making the new meters pointless.
    Last edited by Norman Castle; 16-05-2018 at 7:54 PM.
    Don't harass a hippie. You'll get bad karma.

    Never trust a newbie with a rtb tale.
    • AndyPK
    • By AndyPK 17th May 18, 12:58 PM
    • 2,826 Posts
    • 786 Thanks
    AndyPK

    This is why Germany has decided to limit the roll out smart meters to electricity users who consume more than 6000kWhs/year.
    Originally posted by Hengus


    What's the logic there? Why won't high users save energy with a smart reader display ?
    • Hengus
    • By Hengus 17th May 18, 2:24 PM
    • 5,726 Posts
    • 3,511 Thanks
    Hengus
    What's the logic there? Why won't high users save energy with a smart reader display ?
    Originally posted by AndyPK
    This is Germany's reported policy on the rollout of smart meters:

    Quote: Starting in 2017, large consumers with average annual consumption in excess of 10,000 kWh will be required to install smart meters. This threshold will be lowered to 6,000 kWh in 2020, which applies to approximately 15% of electricity consumers. With over 50 million metering endpoints nationwide, this will result in the installation of around 7.5 million smart meters across Germany. The majority of German households will remain unaffected, given average consumption hovers around 3,500 kWh. The grace period between 2017 and 2020 will allow grid operators and third parties to learn from early adopters and mitigate any issues realised during the initial large consumer rollout. Unquote

    https://www.metering.com/magazine-article/germany-moving-ahead-smart-meter-rollout-plans/

    The logic behind this decision is that average users have little potential to save any energy so the cost of providing them with a smart meter isn't justified.

    So what are the other EU countries doing:

    1. Electricity: In seven countries (Belgium, Czech Republic, Germany, Latvia, Lithuania, Portugal and Slovakia), the CBAs for large-scale rollout by 2020 were negative or inconclusive. In the cases of Germany, Latvia and Slovakia, smart metering is proceeding for particular groups of customers, with 23% penetration projected for each by 2020.

    2, Gas: In 12 countries (Belgium, the Czech Republic, Denmark, Finland, Germany, Greece, Latvia, Portugal, Romania, Slovakia, Spain and Sweden), the results of the CBA were negative.
    • badmemory
    • By badmemory 17th May 18, 7:11 PM
    • 1,603 Posts
    • 2,108 Thanks
    badmemory
    An actual meter is never going to save anybody anything. Well apart from the part of the suppliers bill for meter reading & then you have to insert any tech costs. It doesn't matter how all singing all dancing a meter is the only thing that will save you money is by reducing your usage. Even if they use these meters to bring in even more timing than an Economy 7 uses, it still won't save you money unless you adjust your behaviour/usage to match their timings. Little things like not brewing up between 8 & 9 am or 4 & 6 pm.
    • NineDeuce
    • By NineDeuce 18th May 18, 4:58 PM
    • 824 Posts
    • 753 Thanks
    NineDeuce
    I would like to see your maths on this.
    The company running the Smart Meter data reading program for the financial year 2017 billed all UK consumers for 350m. https://www.smartdcc.co.uk/media/433052/dcc_annual_report_and_regulatory_accounts_31_march _2017.pdf
    And only 300 odd meters are actually officially live (you know the ones that can be switched between any supplier) so where they spent that 350 MILLION I would love to know. Just in that single year.
    You could employ a lot of meter readers for that money and let's not forget this cost will only ever increase as more meters are installed.
    Originally posted by gsmlnx
    Because a meter reader will earn around 20k a year and require transport. Plus a fair percentage to a majority of homes that he/she goes to will be wasted due to inaccessible meters.

    If you dont know where the 350m went, then dont include it as a comparative point. It just sounds like you lazily picked a website with a big figure without knowing what you are actually talking about.
    • gsmlnx
    • By gsmlnx 18th May 18, 5:34 PM
    • 856 Posts
    • 680 Thanks
    gsmlnx
    The website is the DCC's own website and the report is their published Annual Accounts as required by law.
    They haven't said where the money has gone, so I cannot account for it. They have published the legal bare minimum of information.
    So nothing lazy at all. Indeed I'm one of the few to post the official figures and give the source (direct from the horse's mouth).
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

618Posts Today

5,724Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin