More than 1.5 million homes and businesses in New South Wales can now get new electronic smart meters installed for free under an annual $20 million programme that gives them more control over their electricity bills. The move comes after an investigation by EnergyAustralia of 10,300 household electricity accounts already using the smart meters and time-based pricing revealed that households were saving an average $45 a year on their electricity costs compared to EnergyAustralia’s standard domestic rate.

Analysis of smart meters across the EnergyAustralia network shows that 71% of people thought that time-based pricing was a fairer system; 83% said they were more aware of their electricity consumption; 72% said they were actively making changes to their electricity usage; homes with smart meters were saving on average $45 a year compared to standard domestic rates; and 85% of customers were better off under time-based pricing compared to the standard domestic tariff.