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Smart meters – handy tech or a headache in the making? As the Government pushes ahead with its target for 80% of homes in England, Scotland, and Wales to have one by the end of 2025, more households are feeling the pressure to say yes. But do you have to? Starting with the basics, a meter – smart or not – measures how much energy you use. Smart meters do this automatically, sending readings to your supplier without the need for a meter reader.
Suppliers love them because they cut admin costs and provide a clearer picture of usage. Many now offer cheaper tariffs to customers who agree to have one installed. Despite some public hesitation, most users seem fairly happy. Uswitch reports that more than two-thirds (67%) of smart meter users describe themselves as either ‘fairly’ or ‘very’ satisfied – so it’s not all doom and gloom.
That said, it’s perfectly understandable why some people are reluctant. There have been reports of faulty meters causing incorrect readings, and in some cases, eye-watering bills.
It’s not hard to see why that might dent confidence, especially when the tech is still evolving. Still, Uswitch found only 5.6% of people reported higher bills after installation, meaning the vast majority (94.4%) saw bills stay the same or go down.
So, what are your rights? I spoke to Daniel Stern, a property law expert at Slater Heelis, who said if your current meter is working fine, you legally don’t have to accept a smart one.
The exception? If your meter is faulty or has reached the end of its certified life (usually every 10 to 20 years), your supplier will replace it, and it’s likely to be a smart model as traditional ones are being phased out.
Then there’s the issue of energy debt. Matthew Sheeran, from Money Wellness, says smart meters can be genuinely useful for those trying to budget, as they show real-time usage.
But they can also be pushed more aggressively if you owe your supplier money. They still can’t force you to install a smart meter, but they can switch you to prepayment mode remotely. However, they must follow strict Ofgem rules before doing so, including checking for vulnerabilities and offering support.
If you’re concerned, you can ask for the smart meter to be put into ‘dumb mode’. This means it’ll work like a traditional meter and won’t send automatic readings. Not all suppliers offer this, but it’s worth asking.
In short, smart meters can be helpful, but they’re not yet compulsory. Just know that, as the system modernises, your options may narrow. So, if you’re unsure, ask questions, know your rights, and make the choice that works for you.
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Some banks are offering free cash to new customers who switch their current accounts, and some deals are worth up to a handy £310. If you’re happy to jump through a few hoops, it could be a quick way to boost your bank balance.
First Direct is offering a £175 bonus to new customers switching to its 1st Account. You’ll need to use the Current Account Switch Service, move over at least two direct debits, deposit £1,000, make five debit card purchases, and log in to online banking — all within 45 days. Just note: you won’t qualify if you’ve held a First Direct or HSBC current account since 2018.
TSB has the most generous total on offer – up to £310 in cash and rewards. New customers switching to a Spend and Save or Spend and Save Plus account can earn £100 after making five debit card payments and logging into the app before mid-July.
There’s also up to £90 in cashback over six months if you make 20 monthly debit transactions, and a final treat worth £120 – either a hotel voucher or activity passes –if you meet the criteria.
NatWest is offering £150 for switchers to its Reward account. There’s a £2 monthly fee, but you can earn £5 cashback per month by meeting a few basic requirements, making it worth an extra £36 annually after fees.
Finally, The Co-operative Bank is offering new customers up to £175. It’ll pay £100 upfront for switching and an extra £75 paid in £25 monthly instalments if you keep up regular deposits and spending.
As always, read the fine print – eligibility rules and timelines vary. But if you’re happy to meet the conditions, the rewards can be well worth it. Visit the providers’ websites or phone them for more information.
