SMART METERS are to undergo a major change, which will allow “surge pricing” in millions of households’ bills, a new report has warned.
Smart meters will reportedly undergo a massive change and automatically send suppliers updates every 30 minutes on customers’ power use starting from May, the Telegraph has revealed. In May, energy regulator Ofgem will be given the green light to change the way smart meters work, possibly paving the way for “time of use” tariffs.
This could see customers charged different rates for energy throughout the day depending on demand, industry experts have claimed.
Such a system could see households pay more to use electricity at peak times, however, energy bosses have insisted the move will be optional for customers and even stated it will save money.
Currently, homes with a smart meter typically must submit readings once a month.
However, households can opt-in to have their energy usage measured automatically every half hour.