Business Energy Guide on Smart Meters
Smart meters are a modern update to outdated metering technology, but there’s some uncertainty from business owners about what they are and how they work.
If you’re unsure of what a smart meter is or how it can accurately track your business’ energy usage, we’ve put together this helpful guide to give you all the information you might need.
What are smart meters?
Smart meters are digital electricity or gas meters that record energy consumption in real time and send the data to your energy supplier through a wired or wireless connection. This data can help you to understand your energy usage patterns and identify areas where you can save energy.
Can I get a smart meter for my business?
Not all companies are eligible to receive a smart meter; only small companies with fewer than 10 employees will be entitled to one.
Benefits of smart meters for small businesses?
There are a number of benefits to smart meters for small businesses, including:
- Accurate billing – Smart meters ensure that businesses are billed accurately for the energy they consume in real time.
- Energy saving opportunities – Smart meters can help businesses to identify areas where they can save energy. For example, businesses can track their energy consumption over time to identify trends and patterns in order to plan energy-intensive processes for off-peak times.
- Reduced environmental impact – By reducing their energy consumption, businesses can help to reduce their environmental impact.
- Improved efficiency – Smart meters can help businesses to improve their efficiency by providing them with real-time data on their energy consumption. This data can be used to identify and fix energy inefficiencies quickly and easily, such as appliances and machinery that draw more power than necessary
- Increased control – Smart meters give businesses more control over their energy consumption. For example, businesses can use smart meters to set energy targets and track their progress towards those targets.
How do smart meters help with climate change?
Smart meters will allow users to check the amount of energy they are using per day so they can make the necessary changes to reduce their usage. This doesn’t mean that smart meters will have a direct impact on climate change, but the purpose of smart meters for business is to help users reduce their energy usage.
How do smart meters work?
Smart meters use a variety of technologies to collect and send data. Some smart meters use a cellular network, while others use a radio frequency network. Smart meters typically collect data every 30 minutes and send it to your energy supplier. Your energy supplier will then use this data to generate your energy bills.
How to get a smart meter for your business?
To get a smart meter for your business you need to contact your energy supplier. They will be able to tell you if you are eligible for a smart meter and arrange for it to be installed.
Smart meter installation
Smart meter installation is typically a quick and easy process. An engineer will visit your business and replace your existing meter with a smart meter, a process that typically takes around one hour.
How much does a smart meter cost to fit?
Essentially a smart meter’s cost is hidden into a customer’s electricity bills. There is no upfront cost for customers who are looking at having a smart meter installed into their business or property as the cost is added in with your bills.
Who can see my business smart meter data?
Your personal data is protected and will only be available to yourself and your supplier. However, the government will receive information in regards to how much energy is used, and when energy usage occurs across the country.
Do I have to have a smart meter?
It isn’t compulsory for you to have a smart meter installed in your business, however by 2025 every household within the UK will have been offered a smart meter, free of charge. If you haven’t yet been offered a new smart meter, you’re able to request one here. It would be worth adding that although you don’t have to have a smart meter installed it will make managing your energy bills easier as without one you may struggle to access all tariffs. If your energy supplier is telling you that you must have a smart meter you can contact the Exchange Utility team on 0800 9777 000.
Using your smart meter?
Once your smart meter has been installed and connected to the network, you can start to use it to track your own energy use and consumption and identify areas where you can save energy.
Most smart meters have a display that shows your current energy consumption, historical energy and consumption data, and your estimated energy bill. You can also access your smart meter data through a web portal or a mobile app.
Smart meters can offer a number of benefits to businesses, including accurate billing, energy saving opportunities, reduced environmental impact, improved efficiency, and increased control.
If you request a smart meter or are considering getting a smart meter for your business, you should contact your energy supplier to find out more.
Can I still switch energy suppliers with a smart meter?
You can still switch energy suppliers if you’ve got a smart meter installed.
Are smart meters worth it?
Smart meters are a great way of tracking your current energy usage, so if you’re looking to save on your energy bills or do your bit to a greener world a smart meter will certainly help. As a small business owner it is likely that you’ll be conscious of your overall spending, and cutting down on energy costs is a great way to reduce your outgoings. If you’re a small business owner and you’d like more information on small business energy deals then take a look at our guide.
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