Businesses getting smart with smart meters

For immediate release
Media release: Businesses getting smart with smart meters
20 September 2016

Over 70 per cent of New Zealand electricity connections now have smart meters – and an increasing number of innovative electricity retailers are relying on this technology to deliver new customer services.

The Electricity Authority’s latest data shows over half of electricity retailers have more than 80 per cent of their customers with smart meters. Newer retailers have 100 per cent smart meters installed as they only accept customers with smart meters. The retailers that require smart meters to be installed, have built their business models to use smart meter data to reduce costs, increase efficiency, improve customer service and offer new services and tariffs.

Electricity Authority Chief Executive Carl Hansen says, “Many of the new entrants in the electricity market over the last two years have built their business models on the basis of smart meter technology. This is creating new choices for consumers and further enhancing competition.”

There are some distinct advantages for businesses that use smart meters. Smart meters are read remotely and are able to provide meter readings every half hour if needed. Reading meters remotely cuts costs and provides usage information to customers more quickly.

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The Electricity Authority is an independent Crown Entity with a statutory objective to promote competition in, reliable supply by, and the efficient operation of, the electricity industry for the long-term benefit of consumers.

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