Smart Meters - What's in it for me?

[gryffron]

My energy company have just written "inviting" me to have Smart Meters fitted at my home.

Q1) Are these now industry standard? Meaning they can be ported between suppliers. Or are they still tied to individual companies? A quick google search reveals plenty of websites saying they are "going" to be standardised, often with target dates in 2016. But I can see nothing telling me this has actually happened yet.

Q2) What's in it for me?

I can clearly see what's in it for THEM. They pay higher prices for peak time energy, if they can pass on their variable energy costs to their customers, they can more easily balance cost and revenue.

But for me, this means I'd pay more for energy when I actually need it, like when it is dark, or cold. And less for energy when I don't want it. Like a warm sunny afternoon. I fail to see how this is any advantage to ME.

Any offers?

gryff

[swill453]

Q2) What's in it for me?

I can clearly see what's in it for THEM. They pay higher prices for peak time energy, if they can pass on their variable energy costs to their customers, they can more easily balance cost and revenue.

But for me, this means I'd pay more for energy when I actually need it, like when it is dark, or cold. And less for energy when I don't want it. Like a warm sunny afternoon. I fail to see how this is any advantage to ME.

Why are you linking smart meters to variable energy prices?

This must be some nuance that's passed me by. I've had a smart meter for a couple of years and my supplier has never mentioned that concept. And it's definitely not happening at the moment.

Scott.

[gryffron]

Why are you linking smart meters to variable energy prices?.

Because they can. If they want to. What else is the point of them? Indeed, if they choose they can FORCE variable prices on people with smart meters.

Gryff

[Dod1010]

Is the point not supposed to be some Government inspired idea to allow us to monitor our energy use and help us reduce it and so our bills? I opted for it but the monitor in my house soon broke and it is a huge a hassle to call the company and hold on for ages etc so I have just left it. The continuing benefit for me is that I get a regular accurate bill with no need to read the meter myself and tell the supplier. Mine only sends somebody round once per annum; otherwise it is based on their estimate.

Dod

[orchard101]

I find it invaluable and interesting, particularly as I can follow my usage on my account which shows daily, monthly and 1/2 hourly usage.
Also, I am manually tracking my gas usage as, being of limited means, I want to find out my min/max temp for comfort and what it costs me. When I have completed this month I can tally my moniter usage, check on line if it is the same as my suppliers and, if necessary adjust my timings, settings etc.
I love it

[Dod1010]

orchard. I agree and you are the first person that I know who actually uses it in the way it was 'sold' to us consumers. I wish I could find some way of doing that with my oil fired boiler as the price of fuel oil is again creeping up. Oops not for general discussion, sorry!

Dod

[swill453]

It would be so much more useful if they would make the half-hourly information available through one's account on their web site. It's fairly useful to see their usage graphs but on mine (npower.com) they only seem to update it monthly.

I could, as orchard101 does, copy down the information from the monitor and enter it manually, but find that concept to be such a waste of the technology.

Scott.

[UncleEbenezer]

I would hope that in due course we will get fine-grained variable pricing[1], and that that would be cheaper overall than a flat rate. By analogy with my water, which went from £50/month to £20/quarter when I had a meter fitted[2], though not quite so dramatic.

I don't have a smart meter here, and I don't know how far the industry has or hasn't come in dealing with the widely-reported problems of botched early deployment. I expect I may do sometime, but I can't say when.

[1] We've had variable pricing for a long time. It was called Economy 7 last time I had it.
[2] Septic tank here. Those figures would more-than double if I also paid for drainage.

[Slarti]

My energy company have just written "inviting" me to have Smart Meters fitted at my home.

Q1) Are these now industry standard? Meaning they can be ported between suppliers. Or are they still tied to individual companies? A quick google search reveals plenty of websites saying they are "going" to be standardised, often with target dates in 2016. But I can see nothing telling me this has actually happened yet.

Q2) What's in it for me?

I can clearly see what's in it for THEM. They pay higher prices for peak time energy, if they can pass on their variable energy costs to their customers, they can more easily balance cost and revenue.

But for me, this means I'd pay more for energy when I actually need it, like when it is dark, or cold. And less for energy when I don't want it. Like a warm sunny afternoon. I fail to see how this is any advantage to ME.

Any offers?

gryff

Q1) No.

Q2) Reduced security for you network and everything else.

Slarti

[orchard101]

For those interested, I have now tallied my January usage and checked against my supplier figures. It is approximately the same (small difference is due to my taking readings at 11.00pm instead of 12.00)

I discovered that my usage was £1 over my monthly payment and, as I was already in credit I earned myself a Hurrah!!

[chas49]

Q2) Reduced security for you network and everything else.

Slarti

Can you elaborate? As I understand it (at least from the information on my current energy suppliers website), the smart meter sends data using wireless technology (like a mobile phone). I think this means it doesn't connect to my network. So how does having a smart meter mean "reduced security for [my] network" ?

[twotwo22]

I asked yesterday and was told that readings are sent over cellular network.

[Slarti]

Q2) Reduced security for you network and everything else.

Slarti

Can you elaborate? As I understand it (at least from the information on my current energy suppliers website), the smart meter sends data using wireless technology (like a mobile phone). I think this means it doesn't connect to my network. So how does having a smart meter mean "reduced security for [my] network" ?

A lot of the smart meters offer connection to mobiles and/or PCs to aid in your monitoring your consumption. In those cases there are security risks.

If all it does is connect to the supplier by the mobile network then your only risk is them turning your power off, or somebody who has hacked their systems doing it.

Slarti

[Bigfoot111]

When I first heard about them I was quite excited (I know that's sad).

The reason being that I assumed they would allow you to remotely control your central heating, as that is something that would give me a real benefit. But alas, AFAIAA, they cannot do that. So I don't think there is anything in them for me.

BTW I have since invested in Hive which does allow me to control my heating & hot water remotely and by and large that works pretty well.

[k333]

Q2)

Why are you linking smart meters to variable energy prices?

This must be some nuance that's passed me by. I've had a smart meter for a couple of years and my supplier has never mentioned that concept. And it's definitely not happening at the moment.

Scott.

Green Energy have introduced such a tariff based on smartmeters, and for someone like me it looks like it would work out quite well. 5p a unit overnight and 11p a unit during most of the day is quite attractive.

- K

[shadowside]

Smart meters to me seem to be a government boondoggle on a par with the failed 12 billion pound NHS computerisation.

I have had an OWL electricity monitor installed for several years. It cost £25 and gives me all the information on power consumption that a smart meter would do. You could install such monitors in every home for a fraction of the smart meter cost. Yet the government is useing the assumed monitoring savings to justify the entire project.

When I was an investment analyst for Exxon many years ago we had a saying " The base case is a straw man" to cover the situation where a proposed investment shows a good return but all of the savings come from a small part of the investment. To make the right decision you have to take out the attractive investment and then see if the rest is justified . It often wasnt. This project has a straw man in the base.First you install owl monitors in every home then you see if the bulk of the remaining cost is justified.

It may be that the utility companies can see an incentive to go ahead for the savings they not the consumer will make but in that case they should make the decision and they should pay for it.If they can just pass the costs on they will have the wrong incentives.

Also as I understand it the technology is already obsolete. There is no universal standard so there will be difficulties switching, there are security issues and the whole thing is a dogs breakfast.

At least I don't have to worry for a while as there is no mobile signal where my meter is located!

[XFool]

A neighbour seems to have agreed to installation of a smart meter - a van turned up with something like 'SMS Meters' on the side. Later an e-on company van turned up as well. The 'SMS Meters' van left ages ago, but another e-on van turned up. TWO e-on vans have been there most of the afternoon, perhaps it isn't going too well?

It occurs to me that I live in a slightly difficult area for mobile phones, I rely on a local mast and O2 for my mobile. What do smart meters use? Are they tied to one network supplier? What happens if that is not reliable in the location?

Both vans now leaving...

[XFool]

...Here's hoping they do use O2!

My O2 signal has dropped out again this afternoon. Perhaps, if those phone calls by e-on staff were to report a problem with SMS signals, I might not have to wait ten days to get mobile service restored, like last time.