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Families Face Increase in Energy Bills for a New Smart Meter System
15/04/2011
It was recently reported in the National Press that the introduction of smart meters, which can be read remotely, will cost an estimated £11.3billion, £2.3billion more than was quoted in May 2009. These costs will be passed on directly to the consumer, energy companies will not only benefit from zero cost to a new metered system but will also reduce their costs as they will no longer employ individuals to carry out meter readings.
It is anticipated that with the introduction of smart meters, households will see a slight reduction in the cost of gas and electricity due to these meters being more accurate than bills based on estimated readings. The meters which will be introduced to the whole of the UK by 2020 will also result in job losses for admin support staff as it is anticipated that less queries will be made.
Homeowners aged over 55 years who are worried about rising energy costs and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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