Smart meters can save money for both social residents and landlords

Paying energy bills is a struggle for millions of people in the UK but knowing how much everything costs gives us greater control and oversight of our energy costs. One easy way to do this is to use a smart meter.

Smart meters are the new generation of gas and electricity meters. They replace traditional meters and are installed by energy suppliers at no extra cost.

Benefits for residents

Smart meter readings are sent automatically and securely to the energy supplier, removing the need for manual meter readings. This means accurate bills and householders only paying for what they use.

Residents can use their smart meter’s in-home display to identify which appliances use the most energy and so find ways to potentially save money, while still keeping warm and comfortable.

For residents who prepay for their energy, the in-home display will help them to see remaining credit and whether there is any debt on their account. They can also top up much easier via an app or online. They can of course also still top up in their local shop.

With a smart meter, residents can also switch energy supplier much easier and access more flexible tariffs, enabling them to pay a different rate depending on the time of day energy is used.

Benefits for landlords

Smart meters remove the need for in-person visits to read a meter and in some instances it also means meter problems can be diagnosed remotely by energy suppliers.

Smart meters also help from a safety perspective too, as gas appliances will be checked during installation, reducing the risk of carbon monoxide poisoning.

Another practical example of how smart meters enable us to better support vulnerable energy users can be seen through how the Energy Bills Support Scheme was administered direct to smart meter accounts, removing the need for residents to manually redeem vouchers.

As well as offering households a greater insight into their energy use and enabling more accurate billing, smart meters are key to Britain’s future energy system. Smart meters are part of the smart grid of the future, with generators, networks, households, businesses and smart enabled devices all speaking to each other. This is intended to enable the system to be as flexible and efficient as possible, based on realtime data updates.

Other useful information

A common misconception among householders is that they cannot access a smart meter if they don’t own their home but if the energy bill is in the resident’s name, it’s their choice to have a smart meter installed. However, we encourage residents to notify their landlord prior to installation so they are aware that the meter is being upgraded.

There are some property types and locations which might temporarily prevent installation or it working in smart mode, e.g. high-rise properties with multiple meter points. However, technology has been developed to support customers in these cases and is due to be rolled out by energy suppliers.

For residents with an RTS meter, the Radio Teleswitch Service will end in June 2025. The energy regulator Ofgem expects energy suppliers to replace RTS meters with a smart meter before then. Households with an RTS meter should be contacted by their electricity supplier who can provide more information, or landlords can encourage residents with an RTS meter to contact their supplier now.

Free smart meter training for NHF members

Between now and the end of September 2024, National Energy Action offers free places to National Housing Federation’s members on our online course Introduction to Domestic Smart Meters. The training explains how smart meters work, their potential benefits for households (covering both prepay and credit customers), the installation process, consumer protections, myths, how the in-home display works and where to find more information. Book your place using the link above.