Smart Meters Will Bring 7.3 Billion Net Profits to UK in 20 Years

Install 53 million smart meters

According to reports, the UK Department of Energy and Climate Change has formulated a comprehensive strategy and timetable for the installation of 53 million smart meters in 30 million homes and businesses in the UK. According to estimates, the operation will bring a net profit of 7.3 billion to the United Kingdom in the next 20 years.

Chris Huhn, Minister of Energy and Climate Change of the United Kingdom, said that smart meters are a key part of controlling energy consumption at home and at work, helping to reduce waste and save money. He also said that as a complement to plans to reform the electricity market and promote green initiatives in homes and companies, the promotion of smart meters will reduce greenhouse gas emissions as much as possible and give back to consumers in the most favorable way.

Useful for promoting low-carbon energy

British Energy Minister Charles Sendli said that ensuring a safe energy supply, a transition to a low-carbon economy, and keeping energy prices within affordable limits are key challenges in promoting energy and environmental policies. This is why the full promotion of smart electricity to households and companies is a fundamental part of government work. Smart meters enable the construction of a power system adapted to modern needs in the next few years. At the same time, in order to build a smart grid, we also need to access new low-carbon energy resources online and improve our ability to cope with the higher electricity demand brought about by the trend of electricity in transportation and heating.

The smart meter has unlimited potential benefits

According to reports, through the use of smart meters, consumers will have access to real-time information, understand energy consumption, control the use of energy, save energy costs and reduce greenhouse gas emissions. It is estimated that by 2020, ordinary consumers will be expected to save about 23 pounds in energy costs (including electricity and gas) each year by installing smart meters.

At the same time, energy providers will be able to obtain accurate data on bills to help them improve the quality of customer service and reduce costs, for example, by reducing call volume in call centers, ending meter access by meter readers, and better managing borrowing.

The energy network will obtain better information to better manage and plan existing activities, and to transition and develop to the smart grid to support the supply of sustainable energy.

According to KENMI, the official in charge of climate change at the British Consulate-General in Guangzhou, the promotion of smart meters will be divided into two steps. In the initial stage, that is, from now on, the government will work with companies, consumer organizations and other stakeholders to ensure that all necessary basic work is done; in the second stage, it will be completed before large-scale promotion of smart meters. The initial phase will allow companies to have sufficient time to build and test all systems to ensure the smooth implementation of smart meters in a wide range of areas, encourage consumers to actively participate in and test their energy efficiency. Companies can pass tests to learn how to provide consumers with the best services and to define the best ways to help consumers use electricity meters effectively. At this stage, the government will also set up a data communications company to provide data and communications services for the nationwide smart meter system.