New smart meters to help with debt management
New smart meters to help with debt management
Monday 11th May 2009
New plans have revealed that every home in the UK will have smart meters installed by 2020, making the country the first across the globe to have such an overhaul of both electricity and gas meters.
The meters will not only let consumers know how much they are spending, but also make it easier for them to switch to cheaper energy suppliers and benefit from off-peak energy charges.
According to energy and climate change secretary Ed Miliband, the meters currently in use were designed for a different era and it is now time for consumers to take charge of their energy matters with new products.
"Smart meters will empower all consumers to monitor their own energy use and make reductions in energy consumption and carbon emissions as a result," he explained.
The minister added that the meters "will also mean the end of inaccurate bills and estimated meter readings", which will directly impact upon 26 million homes and millions of businesses.
Nursery manager Karen Gibson from Northumberland, who has had a smart meter since October 2007, said her life has been made easier through the appliance.
"I reckon I have saved around £250 since I had it fitted a couple of years ago because I am not wasting as much energy as before," said the 33 year-old, who added that she only pays for exactly what she uses.
Such appliances could help UK consumers minimise their household debt, which stands at an average of £9,280, excluding mortgages, according to debt charity Credit Action.
News article brought to you by Debt1 – The debt management company.
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