Get ahead of the crowd with Premium
Register Forgot password

Smart meter users could be paid to reduce energy use

Isobel Lawrance 10th Nov 2022 No Comments

Reading Time: 2 minutes

It has been announced that homes in Great Britain with a smart energy meter could save up to £100 on their bills by reducing their usage. The National Grid has said people can save money and balance electricity supply in the UK by joining the new scheme. 

The National Grid has said it is working with energy suppliers across the county to roll out the new scheme. But what exactly does it entail? 

Those who wish to take part must cut their electricity use during peak hours. The peak hours are likely to be from 4pm to 7pm, with each household being given a one-hour time slot in which they should try to reduce their electricity use. 

There will be 12 test days in which those in the scheme can take part, starting last week on November 3rd and running until March 31st 2023. 

Could there be blackouts?

It is impossible to say whether blackouts are a certain occurrence this winter. However, it is important to note that the National Grid’s Winter Outlook does suggest this as a possible scenario. 

With the ongoing global gas shortage causing huge spikes in the price of energy, it must be considered as a possible worst-case scenario.  

You can read our article about preparing for blackouts here. 

Which companies are taking part?

Octopus Energy was the first to trial the scheme in February and March 2022. So far, Octopus has reported almost 350,000 of its 1.4 million customers with a smart meter have signed up to the scheme. 

However, since this time, many other energy suppliers, such as Drax and Equiwatt have signed up to the programme. You can read a full list of the energy companies taking part here. 

How can you take part?

You must have a working smart meter to join the scheme. Of course, you will need to be with an energy supplier who is also involved in the programme. Most suppliers who are taking part will be in touch with their customers. However, it is worth checking their website in case you missed any communications from them. 

If you don’t have a smart meter, you can get one installed by contacting your supplier. Please be aware there is currently high demand, so it may take longer than expected. 

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments

Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

Send this to a friend