July 2020
Featured in this insight: Electricity, Gas
Smart meter owners may have saved almost £270m in energy bills during lockdown: A survey of UK adults who have a smart meter installed has found that customers may have saved an average of £39.50 each in energy bills during the COVID-19 lockdown, which the survey's authors estimate to amount to almost £270m.
The survey by energy provider, Utilita, polled 2,000 UK adults about their smart meter usage since the nation went into lockdown on March 23. They based their savings projection on the fact that a quarter of households in the UK now own a smart meter.
The research asked respondents about how they use their smart meter, including the frequency of engaging with the display. Almost a third (32%) said that they look at the smart meter display at least once every day, while the majority said they checked once a week (62%).
More than half the survey participants said that they use the budgeting function on the display to help them make savings (54%), while almost a third (32%) said that they used the devices to help educate their children and other household members about their energy usage. Half the smart meter owners polled said they find the device useful as it allows them to keep an eye on what their money is being spent on.
Three in ten said that since having their smart meter installed they are more tuned into their energy bills and keep a closer eye on spending, while more than a quarter (27%) said that their meter helps them cut down on the amount of energy they use.
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