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Smart Meters May Not Help to Reduce Energy Consumption
07/09/2011
Over the next 10 years, every household in the UK will have a smart meter fitted. It is estimated that this will cost £11.3billion and has been introduced by the Government as part of its plan to help improve energy efficiency.
According to the Energy Saving Trust, smart meters can help households save up to 10% on their bills, around £105 a year.
However, a 12 month study involving thousands of families found that they might not have much effect on consumption. This has raised the question on why we are implementing the solution, as the cost will be passed onto households directly through increased energy bills, not to mention the upheaval the implementation of the programme will cause.
Customers have complained about the inaccuracy of suppliers' estimated bills which can leave households overpaying for their energy, or else facing huge underpayments that suppliers then demand back. Advocates of the gadgets say that besides energy saving, smart meters will provide a solution to the frustration of billing errors.
Consumer group Which? said the average household might save only £23 a year by using a smart meter.
Homeowners aged over 55 years who are worried about the cost of energy and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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