Smart Meters for Business: Commercial Smart Meter Guide

A smart meter can help you easily keep track of exactly how much gas and electricity you are using. You will be able to receive better insights into how much business energy you’re using and when you’re using it. This knowledge helps you improve your business’ efficiency considerably, saving you money on your bills.

This information is relayed back to your supplier in real time, ensuring your energy bill has been calculated accurately. This is where smart meters really make the difference, as old meter readings from years past were often problematic for many business owners. You will now only be billed for the actual energy you make use of.

Smart meter technology for business also allows you to keep a watchful eye on your energy consumption for various business activities through improved processes, allowing you to streamline the amount you spend on a day-to-day basis.

Furthermore, knowing how much power you’re using will be useful when carrying out a business energy audit or switching to a more appropriate tariff. Certain business electricity tariffs are better suited to the time of day your business is operating. A time of use tariff charges you different rates throughout the day.

Moreover, the benefits of a smart meter for your business are not only limited to pricing either. If you experience problems with your service, perhaps disruption, this can be picked up by the provider far sooner as real-time data is sent back and forth between your premises and the supplier. These issues can then be rectified as soon as possible, reducing downtime and allowing you and your team to remain productive. This early diagnosis can in some cases be the difference between remaining open or having to temporarily shut down.

Will your business benefit from a smart meter?

Smart meters for business customers deliver a superior way to monitor and manage your energy costs. Some of the key benefits you can expect by using a smart meter are as follows:

  • Your bills will be far more accurate, saving you both time and money.
  • You will be able to reduce your energy consumption by understanding when your business utilises the most energy.
  • Your supplier will be able to provide you with more personalised energy saving recommendations.
  • It is completely free to have a smart meter installed at your business premise.

The initiative of rolling out smart meters across the UK for businesses and households is estimated to cost around £7billion. These costs will be passed on to consumers, making it more important than ever to understand your business energy bill. Although, we should make mention that these increases are likely to be small. By 2020, non-domestic customers should be able to save £100 annually on their energy bill.

How can I switch to a business smart meter?

The majority of business energy contracts last between one and three years. Your unit price will remain the same during this time period. Although, you will not be able to switch to another tariff without having to pay an exit fee. For this reason, you should compare the cancellation fee with any potential savings you make as you may be able to save more money over a longer period by opting out.

This all has an impact on switching to a contract with a business smart meter. So, make sure you check your contract end date too. Normally, the switching window is between 30 days and four months before your current contract is due to end. By switching during this period, you won’t have to pay a cancellation charge and the process will be a lot easier to manage. You can compare business gas and electricity with Utility Saving Expert. Our free to use online comparison tools have made it easier than ever to save money on your next tariff.

To switch to a deal that includes a business smart meter, you will need the following details:

  • Your business address
  • Name of existing business supplier
  • Your supply type and meter numbers

You’ll find it a lot easier by having a copy of your latest bill to hand, as most of the necessary information will be included on this document. To find out how much you’re able to save, you will need to know what you’re currently spending on gas and electricity. Utility Saving Expert compares industry leading commercial suppliers within minutes.

Once you’ve found a tariff that suits your business’ needs, you can get a business energy smart meter installed at your premises by doing the following:

  • Contact your new provider to request a smart meter to be installed at your business premises.
  • An engineer appointment will be arranged to carry out this installation.
  • The engineer will fit the business smart meter on the agreed date. You will have separate meters for gas and electricity, and the whole installation process can take around an hour for each meter.

It’s also important to note that your new smart meter will be installed in the same location as your current meter. We recommend that you clear the area to allow the engineer to carry out this installation as quickly and safely as possible. You can still have a smart meter installed even if you have a change of business tenancy.

Smart meters for businesses can make a world of a difference. We have highlighted a number of different ways your company could benefit from having one installed. There are very few drawbacks if any. To conclude, you will be able to get better insights to how much power you’re using and understand how to decrease energy consumption.