Smart meters better inform consumers but barriers remain
Much has been written and debated about smart meters as they have hit the market here and around the world - health and security issues among them - but the government is firm in its belief of their benefits as they “better inform” consumers on energy consumption, according to the recently released Energy White Paper.
The paper is to provide a national energy policy for the future of the energy sector by focusing on three priorities: promoting competition in energy markets, increasing productivity and facilitating investment in energy resources development.
The government is placing a high priority on energy market reforms that increase competition among energy suppliers to keep energy prices down for consumers and access to information to enable them to make informed choices about their energy use.
It is clear from the paper that smart meters are considered part of the solution in achieving this.
The paper highlights the rollout of smart meters in Victoria in recent years stating that estimates show those on a ‘market offer’ plan could save $220 a year on their bills.
The main advantage smart meters have in comparison to traditional meters is that they frequently capture data throughout the day, every half hour, rather than measuring total energy consumption (between any two points in time). Consumers can therefore have a clearer picture as to how much electricity they’re using and at what time of the day, in order to alter or reduce their usage habits (especially during peak times).
A further advantage of the smart meter is that they are compatible with different household technologies such as online portals and in-home displays, and also support technologies that report information on particular appliances.
While the paper discusses the benefits of smart meters, it also points out there are “significant barriers” to their effectiveness.
One of the main concerns is the timely access to consumers’ own data, as well as the sharing of consumer data, particularly in developing new systems to support smart meters.
Smart meter installation is mandatory in Victoria, but this is yet to be the case for the other states.*
Other government plans to increase energy market competition into the future are also outlined in the paper, including encouraging the privatisation of state and territory electricity assets.
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