ENERGY BILL

Get smart -
the lowdown on
smart meters.

According to CHOICE magazine, it is reported that only 30% of homes in the ACT have a smart energy meter. By order of the Australian Energy Regulator, all new and replacement meters have to be smart devices so if you’re building a new home or replacing a faulty meter, your new meter will be a smart meter. In addition, the Energy Market Commission has set a target of having 100% smart meter uptake in the ACT and NSW by 2030. This is great news for consumers as smart meters come with a host of benefits to help you take control of your energy use and save!

What is a smart meter?

A smart meter is an electronic device that measures your usage digitally and sends data back to your energy provider. They typically measure your energy use every 30 minutes and send that data direct to your energy provider. You can access this information through your energy retailer, usually by logging into an app or your energy account online to see your energy use and associated costs. Alternatively, you can buy an in-home display, which connects to your smart meter and shows you at any given time how much electricity you're using and how much it's costing.

Benefits of smart meter

Understand your energy use.

Smart meters provide access to data at frequent intervals enabling you to view your energy use and manage accordingly. Armed with the data, you can make informed decisions on how to reduce your bill. You can immediately see the impact of using high energy consumption appliances such as pool pumps, air-conditioning and heating and potentially your energy use.

Take advantage of time-of-use tariffs.

Some energy retailers, like ActewAGL offer time-of-use tariffs, which charge different rates depending on the time of day. You can use your smart meter data to identify times when energy is cheaper and adjust your energy usage accordingly.

Automated meter reading.

Gone are the days of manual readings or bill estimates. With a smart energy meter, your data is transferred electronically creating accurate and up to date billing. Avoid any surprise bills or short-term overpayment for your energy usage. Further, smart meters can be remotely managed, allowing energy companies to monitor and diagnose network issues and reduce downtime.

Reduce environmental impact.

By helping you to manage your energy usage more efficiently, smart meters can help you to reduce your carbon footprint and contribute to a more sustainable future. Smart meters can also integrate with renewable energy sources such as solar panels, allowing you to track energy production and use.

Integrate with home automation and EV chargers.

Some smart meters allow you to control your EV charger remotely, so you can start and stop charging sessions from your smartphone or tablet. This can be especially useful if you want to take advantage of off-peak rates or manage your energy consumption while you're away from home. Some home energy management systems also integrate with smart energy meters to help optimise your energy consumption.

A source of motivation.

You can set targets for reducing your energy usage and track your progress using your smart meter data. This can help you stay motivated to reduce your energy consumption and save money on your bills.

How can I get a smart meter?

Simply contact your energy company to see if you are eligible and to obtain information about what is involved. Following installation, check whether you are on a time-of-use plan which allows you to save money when using energy in off-peak times. Once you start receiving data, be sure to compare plans and make sure you are on the best plan for your needs.

Summary

• The Energy Market Commission has set a target of having 100% smart meter uptake in the ACT and NSW by 2030.

• Smart meters measure energy consumption digitally and send data to the energy provider, allowing users to access the information online or through an in-home display.

• Benefits of smart meters include understanding energy use, taking advantage of time-of-use tariffs, automated meter readings, reducing environmental impact and may integrate with home automation systems and EV chargers.

• Customers can contact ActewAGL to see if they are eligible for a smart meter.

ActewAGL's energy saving tips are designed to help you take control of your energy use, while reducing your bills and environmental impact. Save with great value energy plans backed by our sustainability promise, supported by 100% local, award-winning service.

For more information about how you can transition to an energy-efficient home visit the SolarHub & ActewAGL Smart Energy Hub today.

Sources

www.actewagl.com.au/plans-and-connections/meters/upgrade-my-meter
https://www.energy.gov.au/rebates/electricity-smart-meter-upgrade
https://www.accc.gov.au/system/files/Inquiry%20into%20the%20National%20Electricity%20Market%20-%20May%202022%20report%2813880615.1%29.pdf
https://www.choice.com.au/home-improvement/energy-saving/power-meters/articles/smart-meters-how-do-they-work

Disclaimer: These Energy Savings tips and articles are for information purposes only. Please ensure you are aware of any safety precautions before operating appliances or products.