Smart Metering is an efficient and cost-effective method to monitor any consumable from domestic electric usage to large scale grid management.
Today smart metering is being used to facilitate a wide range of applications in the fields of remote meter reading, customer relationship management, demand-side management and value-added services. Smart meters that enable two-way communication between the meter and the central system are making it possible to engage with consumers in new and innovative ways and to deliver a higher level of customer service than ever before.
The first immediate benefit is the ability to provide business and residential customers with energy bills based on actual, rather than estimated, consumption. All improvements of the billing process contribute to improved cash flow, less bad debt, and fewer inquiries over billing and payments. Smart metering is also an enabler for new pre-paid energy services that can be offered to customers who lack the funds for an up-front deposit or high pre-payments.
The Smart Grid gives utilities the means to meet these challenges - remote data management and monitoring capabilities, automation and control, and the systems for the effective utilization and safe management of transmission and distribution networks. The Smart Grid not only enables utilities to deliver electricity in a sustainable, economic, efficient and secure way, but it also opens up opportunities for the development of other new low carbon technologies such as electric vehicles and the smart home.