Customers must wait for a second generation SMETS2 device in order to access the benefit of multiple tariff offers, IT company Cloud KB has claimed.
The company, which operates a Meter Asset Tracking System (MAT) which supplies market data communication interfaces for meter operators, said customers can only take advantage of low-cost energy deals from multiple providers with “true” smart meters, namely SMETS2 devices.
It added that the government’s smart metering strategy has two primary aims. These are:
- To give customers the ability to buy to their energy at the lowest possible price via multiple tariffs deals from multiple energy providers simultaneously
- To protect the total energy supply by ironing out the anticipated exponential spikes in peak energy demand in the future for new needs such as charging electric vehicles
Kevin Bird, managing director of Cloud KB, insisted that if customers do not have a SMETS2 device they will be unable to access multiple tariffs from multiple providers and their energy bills are “likely to rise significantly”.
Speaking to Utility Week, Bird said: “Part of what SMETS2 is doing is having separate suppliers on one meter at a domestic location.
“It means you can then select multiple suppliers you might choose a supplier that is very good from 4am to 9am when you want to charge your car, that will fit into your SMETS2 meter as a completely separate tariff and supplier.”
Bird also said that having in home batteries in order to offset peak charges, say for EV customers, “depends on” the SMETS2 devices.
In response to the claims, a BEIS spokesperson said: “Millions have already chosen to have a smart meter and take control of their energy use to cut their bills.
“The rollout is a world-leading upgrade to our national infrastructure and the cornerstone of our move to a smarter energy system of the future.
“All smart meters enable energy consumers to have time of use tariffs allowing them to benefit by using energy when it’s cheapest.”
On Tuesday (20 November) figures showed that so far over 140,000 SMETS2 devices have been rolled out so far, with 250,000 expected by the end of the year.
An industry source said that the installation rate is expected to accelerate after 5 December when suppliers are scheduled to stop installing new SMETS1 devices, except prepayment meters, for which the deadline has been extended to 15 March next year.
Responding to oral questions in the House of Commons yesterday (20 November), energy and clean growth minister Claire Perry put the figure for SMETS2 installations at 97,500 as of the end of October.
According to the latest figures, 12.05 million smart and advanced meters have been installed, with the vast majority having been fitted by large energy suppliers.