PowerNet has been supporting the Network Transformation Roadmap (NTR) that the Electricity Network Association (ENA) has produced. This roadmap helps lines companies such as PowerNet prepare for the future in the electricity distribution industry.
Benefits of Smart Meters
Smart meters have been rolled out across both the Electricity Invercargill Ltd and The Power Company Ltd network over the past few years. Smart meters are just like normal electrical meters, the only difference is that they are now digital and more accurate. They also provide retailers the ability to remotely read energy consumption and charge their customers based on actual energy used.
A smart meter records the amount of electricity that is actually used in half-hour intervals, then the data is sent back to the retailer via the radio network.
The benefits of smart meters are:
- More accurate electricity bills – previously, retailers would frequently estimate power consumption on a bi-monthly basis, this method bought the risk of over or under estimating electricity charges for the month. This mean’t your electricity bill on that month might have been unnecessarily higher or lower than the next.
- Energy usage forecast – Some retailers offer a forecast of the likely energy consumption, which means you will likely know how much your bills would be every month.
- Energy usage visibility – Some retailers offer tools to allow customers to track their daily power consumption as it is used.
- More competitive tariffs – Half-hourly energy usage data would open up more competitive tariffs by electricity retailers by introducing time-of-day tariffs. This would allow customers to schedule the use of their appliances to the lowest-cost periods.