Smart meters: Not great for savings
All hail the smart meter! It is here to save us from ourselves and perhaps save us a little money on our bills! Wahoo!
Wait? These digital readers aren't all that? Apparently so. These devices are going to be installed in all houses and businesses and hope to end the days of unreliable estimates on gas and electricity bills as well as putting an end to those people who come and read our meters when we're not in.
All information will be sent electronically to suppliers and of course, they'll all be incredibly honest when processing our bills won't they?
However, that's the least of our worries. You see, the Department for Energy and Climate Change (Decc) have pointed out that we'll all save £23-a-year on these things, as well as footing the bill to have them installed - to the tune of £11.3 billion.
Worse still is that these figures are based on the current average bill and we all know that the cost of gas and electric is about to rise, steeply.
Tom Lyon from uSwitch.com says:“The average household energy bill is already £1,132 a year with £84 of that made up by hidden taxes. Policies launched under the previous Government are expected to add a further 6 per cent or £72 in levies over the next decade – this means that the hidden taxes on our energy bills will add up to £156 a year, far outweighing the potential £23 net saving offered through smart metering.”
Chris Huhne, the Climate Change and Energy Secretary said: "Smart meters are a key part of giving us more control over how we use energy at home and at work, helping us to cut out waste and save money. In combination with our plans to reform the electricity market and introduce the green deal for homes and businesses, the roll-out of smart meters will help us keep the lights on while reducing emissions and getting the best possible deal for the consumer."