According to a new report by UK energy consultancy Delta-ee, and Smart Energy GB, UK customers who actively make use of time-of-use tariffs and other options may save up to a fifth of their annual energy bills.
They also claim that smart meters have the potential to disrupt the energy sector much in the same way platforms like Spotify and Netflix have revolutionised entertainment, by providing a platform for modernisation and the incorporation of new technologies.
For instance, the report predicts that time-of-use tariffs could save an average household up to £90, and up to £130 for households with electric vehicle charging facilities.
The research further suggests potential savings of up to £100 by engaging in peer-to-peer energy trading, such as is being piloted by EDF, and up to £300 by using auto-switching services.
The report also has good news for pre-payment customers, who will be able to share in the savings, as they’ll be using many of the same technologies as billed customers.
Delta-ee’s Principal Analyst Andrew Turton said: “People are now used to real-time services enabled by digitalisation rather than simply purchasing physical products.
“Just as the benefits of music services like Spotify are far greater than not having to buy CDs, smart meters are a fundamentally transformative technology and open up a whole host of new services to customers which can benefit their lives and reduce their costs.”