No, smart meters are not all the same. There are two types of smart meter in circulation at the moment. They are known as:
- SMETS 1: the more common variety
- SMETS 2: the variety now being installed across the UK
SMETS stands for ‘Smart Metering Equipment Technical Specificiations’.
What is a smart meter?
Think of your smart meter as an upgrade from your old gas and electricity meter. The smart meter is, smarter! They are able to give you more control over your spending than the old type of meter.
The rollout of these types of meters are being pushed to 2025, although they were due to be finished in 2020. Gradually, smart meters are being rolled out across the UK with no up-front cost and it is aimed to have them available in as many houses as possible.
Conveniently, the best energy tariffs available at the moment are only open to those with a smart meter in their homes. It is always a good idea to check your eligibility for a smart meter and you can do that here. You can also register your interest if they are not being rolled out in your area at the moment.
What does a smart meter do?
As aforementioned, it is a lot smarter than the old type of meter. The smart meter comes with an abundance of detail and control that the previous model lacks in modern society. Here are just a few things that the smart meter can do for your home:
- Automatic meter readings: when you have a smart meter, there will be no more need to go into a dusty, spider-web-filled cupboard. Your supplier will be able to send you automatic information on your gas and electric usage.
- Pay-what-you-owe basis: this means no more estimated use charges! You only need to pay for what you use within your home.
- Modern data display: instead of a questionable box in a cupboard, you will get a modern in-home display. It is a brilliant gadget to monitor your costs and usage. You will be able to see exactly what you use and where.
- The ability to adjust habits to energy use: once you have a smart meter, you will be able to assess and monitor the trends in your energy usage. This means it…
- Allows you to save money: thanks to your ability to monitor usage. The more you know about your energy consumption, the more money you’ll be able to save by adjusting your habits.
What is the difference between the two types?
SMETS 1 represents the first generation of smart metering technology, whereas SMETS 2 represents the younger and more modern second generation. Here are the key differences:
- SMETS 1: as the most common variety, there are around 18m in circulation around the UK. These meters use 3G for communication between your home, on your display, and your supplier. The issue with first-generation meters is that they can go ‘dumb’. This is when you switch suppliers, and means your meter can go back to working as a regular meter instead of a smart one.
- SMETS 2: these meters are new and incoming. They work differently from SMETS 1 to ensure that your meter does not go dumb. Instead, SMETS 2 meters feed information into a network that can be accessed by suppliers so that you always have an eye on your important analytics and usage.
So…do you really need one?
It is supported by the government to have a smart meter installed in your home, but they are not compulsory. They are brilliant for providing accurate information on energy usage and costs.
It is projected that by 2030, smart meter savings will be in excess of £1 billion a year, so it really is worth assessing your options as a home or business owner.
Written by Molly Govus for Towy Valley.