Typically, gas and electricity are monitored by a meter, which keeps track of the amount of gas or electricity you use every billing period. Standard meters only track on the meter itself, so reads must be taken and submitted manually.
A smart meter does the same thing that standard meters do as far as recording utility usage. However, the main difference is that they are entirely electronic.
The data that the smart meter collects is transmitted over secure wireless networks to a central system that your utility supplier can access, which provides valuable communication with no extra effort on your behalf. This means that your utility supplier always has access to the most up-to-date data, and you can always see exactly what you have spent.
When your business is fitted with a smart meter, one of the key benefits is that you will not need to send in readings yourself. A smart meter will automatically submit regular readings to your provider, meaning you can track your energy usage much more accurately.
This can also be beneficial in ensuring that you do not overpay for your energy, since estimated bills are eliminated. With a smart meter, you can log on to your energy supplier’s portal or app to see how much gas or electricity you have been using by each meter point, which can allow you to budget far more accurately.
In addition to using the customer portal, there are a number of ways that you, or an authorised third party can access the data from your smart meter. To request your data, please fill in our Customer Service request form and we will aim to send it within 10 working days.
The data that you're shown via the smart meter will provide you with the information you need to ensure you can cut energy usage in some areas.
The improved data that you receive from smart meters makes it easier to see when you're using the most energy, and whether that's during on- or off-peak times. This way, you can make slight adjustments that will reduce energy usage during peak hours and help drive your overhead costs down.
You can reduce your demand by conserving energy throughout the day in various ways, such as through ensuring electronics and equipment is turned off when not in use, or through buying energy-efficient equipment.
When you're able to see exactly how much energy you're using in relation to the tasks you're doing in your business, it can help you be more conscious of when you're consuming more gas and/or electricity.
The Department for Business, Energy and Industrial Strategy (BEIS) found that small businesses will see significant benefits from the smart-meter rollout, such as the estimated £1.5bn realised through energy consumption reductions 2013-2034.
This makes it easier to make behavioural and operational adjustments within your business that could help drive your overheads down.
The granular detail of smart meters enables consumers to pinpoint almost exactly which piece of equipment is using up how much energy. It can also help you pair energy consumption with specific business processes.
Again, like with behavioural changes, you can test and tweak changes to your business processes such as experimenting with different power settings or even temperature settings for your equipment to see what difference, if any, it makes to your overall usage.
Once you've seen your company's utility consumption throughout the day, you could then create some new behavioural changes such as turning off computers instead of leaving them on overnight.
Smart meters allow you to see if these behavioural changes have a significant impact as you can measure the success with data. If not, you can keep testing and tweaking company behaviours until you're happy with your cost-savings.
If you have a budget that allocates a certain amount toward utilities, smart meters can help you stay within that amount. Rampant energy usage could negatively impact your budget, so the more control you have, the better.
Considering you can see how much energy you're using at any time, this allows you have complete management over your spending.
As well as this, smart meters have the ability to sync up with energy usage apps. So, if your energy supplier has an app, you’re able to set budgets and reminders, which can make budgeting and energy management even simpler.
A smart meter means you no longer need to check meter readings or compare estimates to actual readings. The smart meter does all of that for you.
You are also saved the hassle of going through your bills and accounts looking for better ways to save money. Your smart meter records all the information about your usage and spend and allows you to access it easily through an online portal or app. All the information you need is right at your fingertips.
That means you can save time for what really matters – you and your business.
Some SMEs have multiple sites, which can make it difficult to manage spending across them all. With smart meters, you can create a more uniform business plan and lower spending across all sites. For example, you can use the site with the lowest spending as a benchmark for your other ones.
In fact, research conducted by the Department for Business, (BEIS) highlights evidence of non-domestic energy consumption reduction, such as a restaurant chain reporting a 6% reduction in energy use over 12 months across all of their restaurants.
By having reference data and concrete numbers in front of you, you'll have full confidence knowing you can reduce utility costs by modelling all sites after the one with the lowest bills.
Smart meters don’t save you money just by installing them. They only provide you the real-time data and tools you need to save money. You need to take this information and use it to reduce your electricity usage and spend.
Smart meters allow you to show the impact of little changes to your staff and get them on board. It also gives you the hard numbers about savings, in case you need to think of cost-effective ways to incentivise behaviour changes.
So, don’t expect the savings to come immediately. It takes time to foster a culture of responsible energy use within a business. But once you have done so, the cost savings could speak for themselves.
So, how do smart meters save money? By sending real time data to your utility company, smart meters ensure accurate billing and give you a better picture of your company’s energy usage. They also provide you with all the information you need to improve efficiency, make savings and foster an energy conscious environment at work. And with smart meter installation at no extra charge, they are a great way to reduce energy usage and save money without increasing costs.
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