You are here: Home - Saving & Banking -

Brits nearly £14bn better off by 2030

Written by:
Households will be nearly £14bn better off after the introduction of smart metres to homes and business across the country, according to a recent report.

According to British Gas and Oxford Economics, the costs and benefits of smart metres from 2012 to 2030 could amount to £25.3bn, a net gain of £14bn in this time period.

This amounts to around £65 off the average annual dual fuel bill of £1,310 according to Ofgem.

Dean Keeling, managing director of British Gas Smart Homes, said: “The facts are plain; smart meters will help people save energy putting money in their back pocket.”

British Gas say that smart meters will put an end to estimated bills by sending energy suppliers exact meter readings automatically, meaning customers will only pay for the energy they use.

Customers will also be given a portable energy display which will tell them how much gas and electricity they are using and the cost of their exact bill at that time.

The Government requires all homes and businesses to have a smart meter installed by 2019.

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
King calls end of UK recession in Q4

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs...