It is true the electricity companies can use smart meters to offer flexible tariffs, but they are not compulsory and from what I've seen of Scottish Power's not very competitive. Off-peak is 7:30PM to 23:59 on one of their offerings. So peak rate is midnight to early evening and not as low a rate as a normal tariff. Things may change and more competitive offering become available. For electric vehicle owners their are already a few flexible low overnight tariffs. What is more interesting is the potential to be paid to feed into the grid at peak time from home storage (including electric vehicles) or solar panels to balance the load, but for the majority this is still some way off. As consumers we are charged a fixed rate tariff, but in reality electricity generation is priced half-hourly and the prices published one day ahead (based on weather predictions and other factors), smart meters in theory should allow consumers some control over when to use high consumption devices or feed back to the grid to cut the bills, it remains to be seen whether any of this actually happens.
Hi, I’m experiencing similar scenario in that a smart meter was installed in Feb 2019 and it’s not recorded an accurate reading since. Scottish Power has billed me a horrendous amount that’s way above usual use before smart meter was installed. In the past, I always ensured that accurate readings were provided, but the smart meter has been installed it’s not recording anything. I’ve gone to Ombusman but that pays lip-service; problems with smart meter reading and billing continues. I’ve been a loyal customer of Scottish Power for a few years, but now I’m off. I don’t trust this energy provider anymore. Strange, I’m being charged a huge amount and I’m never really at home!
@SomersetBob My concern is there's more than one way to skin a cat. Smart meters were going to be compulsory until the government relented, not the energy providers. THEY got stung with the targets instead. So what have the suppliers done.... begun to make smart meter installaton mandatory for acceptance to the better tariffs. There are even people posting on here who're bewildered because they've gotten smart meter installation appointments when they didn't even know accepting their new tariff meant they'd said 'yes' to having them..
I can see the same thing happening with Frivolous 5. What we'll eventually see is that when your current tariff ends, there won't BE a tariff available that ISN'T a peak-rate flexi. To me, that means compulsory.