Smart metering is a way for a utility company to collect information about energy use in businesses and homes without deploying workers to physically read meters. Smart meter technology makes it possible to send electricity usage information to the utility provider electronically. Rather than waiting for a meter reader visit to take a reading once a month, a smart meter can transmit information to the utility company several times a month. The meter can provide information to utility companies and home or business owners about how much energy is being used and when it is being used.
Consumers Benefits
Smart metering has several benefits for both home and businesses. It can help lower your utility costs because it gives you the information to make decisions that can help lower your electricity use. You can visit the utility company’s website and see how much electricity you are using at various times. This is important because during peak times, you may decide to engage in fewer activities, such as running a clothes dryer, that require more electricity.
When there is a power outage smart metering helps the utility companies pinpoint where outages occur which means that electricity can be restored to homes and businesses more quickly. Restoring power quickly reduces inconvenience for consumers and helps businesses avoid financial losses.
When smart metering is used, a utility company’s overall costs may be lowered because fewer employees are needed to read meters. This also reduces the need for vehicles and fuel associated with employees traveling to take meter readings. Lower operating costs for the utility company means lower cost for you or your business.
Enhanced Efficiency in Power Generation Requirements
As the need for electricity grows so does the need for building power plants that can supply energy during peak use periods. However, smart metering can help you and millions of other consumers take charge of decreasing your own electricity use during peak periods, meaning that fewer power plants, in the long run, will be needed. This introduces enhanced efficiency into the entire system, which provides economic benefits for both consumers and energy suppliers.
