Smart meters are a great way of keeping track of your energy usage, so that you know exactly how much energy you use, when you use it and how much it is costing you. By understanding your own usage patterns, it is possible to improve your energy for business efficiency and the real-time information is sent straight to your supplier so you will also benefit from accurate gas and electricity bills.
A smart meter will allow you to keep a closer eye on energy consumption habits, so you can ensure your business is signed up to the most appropriate tariff. For example, you may find that your business uses more energy at night and there may be a tariff available which offers lower unit rates at night. Alternatively, you may be able to alter the way your business operates and take advantage of cheaper night-time rates by using more energy when it is costing your business less.
Smart meters will also improve the accuracy of bills, as each bill will be calculated based on real-time data. This means there is no requirement to manually submit meter readings. Instead the smart meter contains a SIM card which sends data straight to your supplier.
There are also benefits to your business beyond saving money, such as improving the reliability of the supply to your business. The real-time data transfer to your energy supplier will ensure that any issues with your service are picked up quickly, which will reduce potential down-time.
Having a smart meter installed at your business premises is completely free, thanks to a government fund of £8.8 million designed to pioneer new smart meter technology across SMEs. The government believes that smart meters have the ability to save businesses money and improve energy efficiency, so cash is being invested to ensure the technology is widely adopted.
If you would like a smart meter installed simply call your supplier and submit a request for an installation. An engineer will visit your premises on an agreed date and the new smart meter will be installed in the same place as your old energy meter. If you would like to have a smart meter installed
for both your gas and electricity, you will need to request each one separately. In most cases it will take roughly one hour to install each meter and you will need to ensure that the area is easy to reach. If your business uses more than 3GWh of energy per year, you will be able to choose the type of smart meter which is installed.
However, for lower consumption businesses you will be provided with a SMET2, which is capable of analysing various aspects of your energy usage habits. The energy supplier is also required to show you exactly how the meter works, so that your business is able to become more efficient.
If you decide to switch energy suppliers the smart meters are interoperable, so your meter can be used by your new supplier. In fact, many businesses decide to search for the most competitive gas and electricity deals after their meters are installed, as they become more aware of their usage patterns.
If you are thinking of switching suppliers, our team can help. We have partnered with a panel of energy suppliers to help businesses across the UK find the best deals for their gas and electricity. To find out whether there is a more competitive energy deal available, please contact our team today.