What is it?
Smart metering is the measurement of a facility’s electricity, gas, or water consumption by using a smart meter. This device has the ability to share this data with a utility company over a wireless connection. Consequently, the utility company receives real-time data about resource use.
The purpose of smart metering is to increase the accuracy of utility billing and improve the service that the company delivers.
How does it work?
Thanks to smart metering, the company can record energy consumption at different times throughout the day. It provides insight into customer demand and allows the company to offer dynamic personalized pricing.
Another benefit of smart metering is the detection of power outages or other supply system issues. This enables the utility company to address the question in a timely manner.
At the same time, smart metering gives customers the opportunity to reduce utility costs. For instance, data acquired through smart metering may prompt customers to adjust their energy use considering the amount and time of day.
Devices can send customers notifications once energy consumption reaches a certain level. This functionality is meant to improve control of utility expenses.