When you accept a smart meter, you’ll have a choice to send your meter readings to your supplier about your usage every 30 minutes. These half-hourly readings will help energy suppliers understand how much energy is being used around the country, and when. With this information, energy suppliers will be able to buy more accurate amounts of energy to supply their customers.
This will help us to reach net-zero by reducing our reliance on fossil fuels – great!
But that isn’t the only benefit, with suppliers only buying what they need to supply your home, consumers stand to save. And the more that consumers move some of their energy use to off-peak periods, the greater these savings will be. With the electricity system running more efficiently, Ofgem estimates that consumers could save between £1.6 billion and £4.5 billion by 2045.