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My parents have a reasonbly large house which is heated by storage radiators. Their heating bill is rather large and I was wondering if fitting a smart meter would reduce it.
 
I think it would show them how much they are using but, perhaps they need to take action after looking at the readings. Alternatively I'm told that replacing the storage heaters with Infra-Red heaters will reduce the bill by as much as 40%. Infra red heats objects rather than the air. So people, walls, furniture etc. Which then radiate heat, whereas the air just goes to the top of the room. I hope that helps
 
A Smart meter alone won't reduce consumption or Costs.

As above, they'll be able to see when they are using most Electricity and maybe reduce some of the excess other than for the Heating.

The easiest way to reduce heating costs it to add insulation to the house or change to a more efficient source of heating.
How long do they plan to stay in the house, moving to a smaller better insulated house might be an option?
 
Infra red might help a little, but are most effective when you are in front of them (line of site).

I can't see how a smart meter on it's own would make any difference at all, other than provide easier access to the numbers, but timers on individual heaters could help (at the expense of more temperature fluctuation, and hence cooler rooms when they are off :).

The benefits of smart meters will come the day when utilities can use them to switch off YOUR heating/fridges etc when THEY want to, and therefore offer lower electricity costs, since doing this en-masse will reduce the need for spinning reserve and energy storage.

By far the biggest benefit, and this applies to the majority of our appallingly inefficient UK housing stock, is to retro-fit insulation improvements. - External wall insulation and render if possible.

Internal insulation improvements are possible otherwise, I've actually done the majority of my own house this way now, and have helped with individual rooms at friend's house.
The effect of adding 50..70mm PIR (Celotex..Kingspan) internally (even to already filled cavity walls) is dramatic, and it's instantly obvious on the whole feel and utility of the space, as well as a huge reduction in energy bills. It's a real lot of work though, for example, minimum of probably 8 days to do a single bedroom since it means 100% stripping it all out, including cills and window reveals extending electrics and plumbing, and taking minute care with the integrity of new vapour barriers before the new plasterboard goes in. They would also find it hard to find someone to do it, and I'm not volunteering.
 
Thanks Justin for that detailed answer, are you sure you don't want to do it? :)
The reason I asked about smart meters was that I was under the impression that you only paid for what you used. With the current meter the electric companies 'predict' what you are going to use and then average it out. So if we have a mild winter you might end up paying more. Plus I don't trust them.;)
 
Smart meters do give accurate billing, but the end result is the same. Without a smart meter, companies rely on meter readers to tell them about consumption. If they want to keep their bills and payments accurate, advise them to enter their meter readings online at least once a month. My payment goes out on the 28th of each month, so I always enter my readings on the 27th. My supplier allows me to adjust my direct debit each month myself, so I do feel I have control. Smart meters should remove the need to provide meter readings so bills would be more accurate. In theory!
 
As has been said insulation is the answer , also storage heating is not the best way to heat a property if another source is available. I suspect you already know this.
You may find the cost of the remedy may take a long time to recover , but you have to put the welfare of your parents first.
 
Another avenue you could explore is the tarif , meaning that if they are not tied into a contract already then go on U switch and compare what tarif prices they are on already with what else is available...
 

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