Posted on: 31/03/11
Smart meters predicted to save Â£23 per year
The Government rollout of over 50 million smart meters by 2020 is the most comprehensive yet planned in any country and will require a huge logistical effort and cost in the order of £11 billion. Although this may seem like a vast amount of money for the Government to be spending, they are also predicting that the potential savings will equate to approximately £7 billion over and above the cost of the project. Based on these figures the Government is predicting that the average household in the UK will save approximately £23 per year on there energy bills. This is up from the previous estimate of £14 saving per year.
There has been some dispute as to how accurate these figures on savings are, most notably from the consumer group Which? who argue that it is too hard to accurately predict how much the smart meter rollout will save the average consumer because there is not enough data available. It would seem sensible that making an accurate prediction at this stage would be almost impossible, not least because there are so many variables to take into account that would affect whether a consumer would make any savings or not. However, there is a general consensus that there are savings to be made, both for the consumer and the supplier as they improve their efficiency.