Reduce electricity prices with smart metering

Many businesses are cutting down on the electricity prices they pay, thus saving money, by installing smart meters in their premises.

Among the latest organisations to take advantage of the savings offered by smart meters are several local businesses based in Wales, as part of the Green Snowdonia Project's aim to reduce local carbon emissions.

This project involves lending smart meters to businesses in the tourism sector. These companies are likely to benefit the most from preserving the natural beauty of Snowdonia.

Benefits of smart meters

Smart meters offer real-time information about the electricity use in your business. This will help you use energy more efficiently, helping you save money and reduce your carbon footprint.

The utility companies receive information from the smart meter direct, without the need to use estimates or to contact you for accurate readings.

By providing completely precise measurements on energy use, which are sent directly to the supplier, smart meters ensure that bills are accurate. When bills are based on estimates, you can sometimes find yourself overcharged for electricity.

On the other hand, if you have been undercharged, you could find yourself facing a large bill to make up the difference, so installing a more accurate meter has an obvious financial benefit for your business.

And that is not the only financial benefit. A smart meter also allows you to sell energy back to the network.

In the current economic climate, these sorts of savings can be very important for businesses.

Distribution of smart meters

Smart meters were first piloted in the UK in 2006. Surveys of the businesses that had these meters installed showed they had made employees more aware of electricity prices and energy efficiency.

Consequently, less energy was wasted in the workplace.

The UK government has set a target for all businesses to be provided with a smart meter by 2017. It is believed that more accurate billing and improved energy efficiency will make things better for both energy suppliers and their customers.

Of course, businesses can choose to have a smart meter installed before 2017 if they want to benefit from long-term savings on electricity prices.

Because, although there is an initial installation fee, most businesses have saved money on energy since having a smart meter fitted.

Smart meter installation

The first step towards having a smart meter installed in your business premises is to find an electricity provider that offers them.

Of course, it would be very time consuming to begin contacting the various energy providers in your area, which is why you may choose to use a price comparison service to make the search quicker and easier.

You can either call them or, if this is not convenient, you can enter your contact details on the site. A business consultant will then contact you at a time that is suitable for you.

You can then discuss your current energy use with the consultant, who will use the information to find the electricity provider that offers the best value for money.

In most cases, any paperwork that is needed can be completed on your behalf, and the site will also ensure that your switch, and the installation of a smart meter, goes smoothly.

You will never be without power, nor will you be charged twice for the same period.

While having a smart meter will result in an initial fee, the long-term savings - both in terms of money and in terms of reduced carbon emissions - will make it more than worth it.