While the cost of living is increasing, energy prices are constantly changing. A smart meter will provide information to help regain control of those annual electricity costs. However, many households across Australia do not yet have access to these digital meters. This article will explain the steps to install a smart meter, their intricacies and whether smart meter readings are accurate.
On this page, you’ll find:
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How to organise a smart meter installation
Before you start, it’s crucial that you first determine if you’re eligible for a smart meter installation. The main factors impacting eligibility are:
- Whether the energy provider offers smart meters with an electricity plan.
- Whether a smart meter is mandatory for a product/service you’ve opted in for (eg. the installation of new solar panels and/or batteries).
- Whether smart meters have been widely rolled out in your area.
- Whether your existing meter is damaged or faulty and in need of replacement.
- Whether your home is a newly built property.
- Whether your home is part of an embedded electricity network (contact your embedded network operator for more information).
Once you’ve assessed your eligibility, follow the steps below to get your smart meter installed as soon as possible.
- Contact energy providers: Find the most competitive price and whether they are available near you.
- Ask about the costs involved: Find out if there are any installation fees or ongoing expenses.
- Book a date and time: Organise an installation date to replace an existing meter or install a new smart meter.
- Provide safe access for installation: Make sure your energy retailer can safely install your smart meter at the premises:
- Ensure your meter board or housing is not hindered by unsafe wiring.
- Ensure your property has an isolation device for turning off the power.
- Ensure that turning off your power does not impact your neighbours’ access to power.
The availability of smart meters tends to vary between states and energy retailers. However, since December 2017, smart meters have been rolled out for new meter installations or replacements.
In November 2024, The Australian Energy Market Commission (AEMC) also reaffirmed its commitment to the acceleration of smart meter installations across Australia.
Compare electricity prices
Don’t have a smart meter but want to compare the latest energy deals and prices? Below are the current prices suitable for single rate tariff users and those who pay for energy without peak or off-peak prices.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Smart meter installation costs
Because smart meter installation costs vary from provider to provider, it’s important to enquire how they charge for smart meters, as well as any ongoing expenses associated with the device.
Some electricity retailers will bear the smart meter installation costs upfront– including the meter itself– then add a lump sum to the next energy bill or over a few bill cycles.
Other energy retailers may offer free smart meter installation as part of a deal or promotion, but be wary of hidden costs. For example, while the energy retailer may waive installation costs, they could increase their usage rates instead. That’s why it’s vital to always read the fine print on their energy price fact sheets.
Please note that each electricity provider will charge differently for reasons such as the location of service.
What does a smart meter do?
A smart meter, also known as a digital or advanced meter, does the following:
- Record your household’s electricity usage in 30-minute intervals by using real-time technology.
- Smart meters send this data wirelessly to your energy retailer.
- This information allows you to receive constant updates on your energy consumption, which can be useful in monitoring usage habits to help save money on power bills.
Customers with a smart meter also have more options when choosing a type of electricity plan. With a smart meter, you can choose between a time–of–use tariff or a single-rate tariff, both of which have advantages and disadvantages.
However, if you don’t have a smart meter, you can’t choose a time-of-use electricity plan, which means you won’t be able to tap into cheaper energy rates during the less busy periods of the day, otherwise referred to as peak and off-peak times.
A controlled load, a tariff that allows power-hungry appliances (eg. underfloor heating) to draw energy at off-peak hours, is accessible to both smart and non-smart meters if certain conditions are met:
- If you do not have a smart meter: High-usage appliances need to be wired to their independent meters.
- If you have a smart meter: High-usage appliances must be on different circuits, but fed to the same smart meter.
Are smart meter readings accurate?
Unlike conventional meter readings where a contractor would physically record your energy consumption, smart meters send real-time data to your electricity and gas retailer for an accurate reading. With most smart meters, you have access to constantly updated information.
Smart meters are comparable to internet banking. Before internet banking, accessing bank account information was only possible via physically attending the bank or calling a teller. With the arrival of banking apps and the internet, customers can log in to their accounts from smartphones, tablets or computers. This is essentially what smart meter technology has achieved with energy – it has given the convenience of monitoring overheads within the comforts of your own home.
While there are no guarantees a smart meter will save money on energy, it can help identify where and when electricity usage is at its peak. Much like online banking, being able to see live data of energy usage can help to keep electricity users more accountable, particularly those trying to save.
For example, a smart meter is especially helpful for visualising higher-energy usage patterns in winter, which can offer significant savings when paired with targeted winter energy-reducing tips.
How long does it take to receive a smart meter?
Residents of New South Wales, Queensland, South Australia and the ACT should expect around 10 business days for new smart meter connections, and 20 business days for a meter replacement, including solar.
In Victoria, your energy distributor is responsible for all smart meter installations, so it’s best to get in contact.
Should I have a smart meter installed?
In Australia, smart meters are required for all new property connections, or if an existing meter is faulty and needs to be replaced.
Aside from mandatory installations, there are many benefits of switching to a smart meter, including:
- To take advantage of off-peak electricity rates on a flexible pricing tariff
- To receive live usage information and monitor energy consumption
- To connect or disconnect remotely from an app (depending on the energy provider)
- To measure electricity usage being exported by solar systems.
While installing a smart meter provides you access to your energy consumption habits and time-off-use tariffs, there are many other ways to effectively reduce your energy bill like making your home more energy-efficient.
More importantly, we encourage customers to shop around for deals and offers from different energy retailers to make sure they’re reaping the most savings.
Picture credits: Alexander Kirch/Shutterstock.com, Victorian Energy Saver, SpeedKingz/Shutterstock.com
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