2014 is set to be an interesting year for the energy industry. Why?…because that is the yeat that Smart Metering begins to roll out to all households and businesses in the UK. You will experience the change as both a business and domestic consumer.
Not so fast. The introduction of Smart Metering is percieved by some as the start of reduced bills thanks to more real time data and the ability to understand your usage on a daily basis. Well, sorry to disappoint but the emphasis will still be on the business or household to use the live data to monitor and assess where bills can be reduced by switching off, conserving and limiting energy use. Switch off that light, wear a little more clothing in the office so the heat can be turned down a notch and ensure that PC monitors are energy saving with PC’s that are easily turned off.
Smart meters are due for domestic roll-out by 2018 and 2020 for commercial. The basic premise is that energy isn’t going to get any cheaper in the near future and consumers; domestic and commercial are going to have to manage their energy consumption – why? Because we’re digging the hard stuff [oil, gas and coal] out of the ground and the alternatives are either hugely more expensive or dangerous [e.g. Fukushima]. To enable this to happen successfully requires that the consumer is engaged in the process with the result being that they will be able to see how much, when and at what cost energy is consumed.
SSE, the UKs second largest energy generator, has recently announced plans to introduce a new, transparent approach to the management of its electricity supply. The innovative solution will see SSE auction all of its energy generated and demand purchased on the day ahead market.
Chris Huhne, UK Energy Secretary, has recently dismissed reports that the UK has the highest energy costs across Europe, whilst acknowledging that prices are rising both in the short and long term. He went to advise both domestic and commercial/ business customers to search the market to find the very best prices available. Given the lack of competition between many suppliers at the moment, Torse strongly agrees with Mr Huhne’s idea to ensure your business is getting the best value.