ARE you a lark or an owl? Either way you can save money on your energy bill.
Your tendency to wake early in the morning or not sleep until late at night is called your chronotype, but whether you are one or the other you can use it to your economic advantage by saving money on your energy bills.
The opportunity lies in your smart meter, which enables you to access smart tariffs, but you have to ensure you are on the right plan with your energy supplier to access this, and many people are not aware of this. Figures show that only one in five households in Ireland are currently signed up to a smart tariff plan since receiving their smart meter.
65,000 smart meters in Donegal and counting
The National Smart Metering Programme (NSMP) commenced in late 2019 when ESB Networks in cooperation with the Department of the Environment, Climate and Communications, the Commission for Regulation of Utilities (CRU), Sustainable Energy Authority of Ireland (SEAI) and electricity supply companies. pledged to install a smart meter in every home in Ireland by 2024. Although disruptions because of Covid set it back, speaking to the Donegal News this week ESB Networks confirmed that as of August 2024 they are on schedule and within budget to reach the target of the installation of smart meters to over 2 million homes, farms and businesses by mid 2025.
As of this week in Donegal there are over 65,000 smart meters and counting installed across the county according to the figures received by the Donegal News. This accounts for 70% of eligible customers.
Smart Tariff Plans
But are you getting the best out of your smart meter with a smart tariff plan?
‘With their environmental and economic benefits, broadly speaking smart meters ensure the best and most efficient use of energy’ said Paul Hand, press officer for ESB Networks. ‘The new technology will help us all to manage how and when electricity is being used in Ireland, so that the right amount is produced at the right time, from the right sources, to help us lower our carbon emissions’ he added.
Your energy data is sent digitally to your supplier so there’s the obvious benefit that you only pay for exactly what you use rather than from an estimate which was the old analogue way. With access to real-time data on their usage customers also have more of a handle of what they’re using and are less likely to get a shock when their bills come in.
‘But there’s no automatic change to your tariff just because you have a smart meter’ he said. The smart tariffs are all accessed on an opt-in basis and depend on who your energy supplier is. Customers should be aware that there are benefits to be had by signing up to the right smart tariff for their lifestyle and are encouraged to check with their energy supplier to ensure they are on the right one.
If you’re an early bird of night owl
For example, for the early birds and night owls, Electric Ireland’s Electricity Energy Saver plan offers a day rate of .35 cent per unit which reduces to .17 cent, less than half price after 11pm and runs until 8:00am in the morning. Night owls can get their washing done late at night and the larks can do it before their breakfast in the early morning.
The smart tariffs only save you money if you work with them though, and this might mean changing your habits. If you’re on the Electricity Energy Saver and availing of the late night / early morning rate, there’s no point in putting on your dishwasher and washing machine at 5pm in the afternoon which is the peak energy-usage period and the most expensive time.
For people who use most of their energy during the day, the Electricity Energy Saver which offers the best rate early morning and late at night, won’t be of much use for money saving. For those customers, Electric Ireland’s Home Electric + Saver 14%, which gives a flat rate of .32 cent per unit 24 hours a day might be a good option.
ESB’s online portal
Customers who have their smart meter installed are advised to check ESB’s Online Portal, which allows them to see real-time information and what appliances are using the most energy. Then they can contact their energy supplier to adjust their billing plans to their lifestyle or adjust their habits to their billing plans as the case may be.
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