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One million smart electricity meters now installed

One million smart electricity meters now installed

The rollout of smart electricity meters has reached a milestone with one million of the electronic meters now installed in New Zealand homes and businesses.

New Zealand’s smart meter rollout has largely been driven by three of the large electricity retailers who have used it as an opportunity to gain a competitive edge in the market. In most other countries where smart meters have been implemented the rollout has been mandated.

Carl Hansen, Chief Executive of the Electricity Authority says New Zealand’s approach is paying off for consumers. “Strong competition between retailers has meant the meters are being installed free of charge to consumers. In other countries, consumers have been charged up to $900 to have a smart meter installed.

“Customers are now also seeing the benefits of more innovative pricing and services, for example many retailers are now marketing special packages for those with smart meters, particularly to encourage and reward off-peak electricity usage.”

Smart meters also mean consumers are able to monitor their electricity usage more closely which can assist with reducing electricity consumption.

Genesis Energy has installed the most smart meters with 395,754 connection points (including those installed for its Energy Online brand).

By April 2015 it is estimated there will be more than 1.2 million smart meters in New Zealand, with just over 800,000 of the traditional meters remaining.

Note: All data as at 31 December 2013. On this date 1,001,475 of the 2,066,827 connection points in New Zealand were recorded as having smart meters installed.

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