SMART METERS
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ROLLING OUT A SMARTER NETWORK Of all new demand management technologies, smart meters are a somewhat surprising candidate for one of the most talked about and controversial. Nevertheless, in Victoria, the smart meter rollout is now more than 98 per cent complete, with more than 2.6 million metering units installed, and consumers are beginning to have a greater understanding of the benefits they offer.
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ictoria led the way on smart meters, with all five electricity network distributors rolling them out in accordance with state government legislation. Utilities around Australia have since begun their own rollouts, or are considering or trialling the new meters along with other network technologies. Smart meters are also in use in much of NSW, and have been installed on the ACT power network since 2007. Learning from the Victorian rollout, electricity providers have primarily decided not to complete a mandated rollout with compulsory time-of-use pricing, but to offer voluntary flexible pricing options.
THE VICTORIAN ROLLOUT The Victorian smart meter program is a major infrastructure upgrade intended to replace old meters with newer technology with a wider range of capabilities. After meeting initial resistance, the program was reviewed in 2011 to rein in costs and a campaign was launched to make customers more aware of what smart meters were, how they worked and what benefits they offer. The Victorian Government also launched the My Power Planner tool to make it easier for Victorians to make informed choices about power deals and the possible flexible pricing options available with smart meters.
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A key benefit of smart meters is the extra information they give consumers about their power use. Through tools like web portals, in-home displays and smartphone apps, many Victorians are now able to access the half hourly readings of their smart meter, giving them a detailed and up-to-date picture of their power use. This information can be used by customers to make significant savings by informing decisions and changing behaviour. Smart meters have also enabled the introduction of new flexible pricing
options, giving Victorians more choice when they are looking for power plans that can save them money. Flexible pricing is now available as a voluntary option, with those who choose it being charged different rates for their power at peak, shoulder and off-peak times. Victoria has one of the most competitive electricity markets in the world, which means there are significant savings on offer for consumers who are willing to shop around. My Power Planner, which has been endorsed by consumer group