Adopting appropriate metering and process engineering technology could save Great Britain’s consumers 5% to 10% on their annual energy bills (over £120), according to Utilita Energy, one of the nation’s largest independent suppliers.
Utilita, which has been championing the use of smart metering for the pre-payment segment for over a decade, has over 250,000 customers and is signing up over 10,000 new customers a month.
The energy company credits its smart metering technology with transforming the appeal of energy prepayment service. Utiliita’s meters are programmed with friendly and emergency credit, so that customers are less likely to be inconvenienced by self-disconnection. They can also top up their credit online, over the phone or via SMS, without needing to visit a pay-point.
Using smart meters has also cut the cost to serve prepayment customers, according to Utilita, allowing it to pass on the benefits to customers by offering competitive tariffs. The company claims to have maintained a price point below that of the Big 6 energy suppliers’ cheapest tariffs for over five years.
Utilita believes its investment in modern technology and efficient processes will see it take 20% of the prepayment market within the next two years. The supplier also anticipates that the broader adoption of smart prepayment technology in Great Britain will spur an enormous growth in energy prepayment, estimating that at least 10 million homes – nearly 40% – will be served by smart prepayment meters within a decade.