One of the major potential benefits of smart meters is their ability to give consumers access to detailed data on their electricity usage via an in-home display or internet portals. In-home displays are not yet widely available but should become available with a variety of options in a range of prices in the future.

Many power companies now offer products and services to help their customers take advantage of the smart home. For example, many power companies offer an online marketplace, an Amazon-like website that allows you to purchase smart home and energy-efficient products, often with a significant rebate or incentive applied. On ComEd Marketplace, a website for Illinois’ largest power company, customers can purchase a Google Nest Thermostat for only $69 after instant rebate. Some power companies may give you a free smart thermostat or significant rebate if you enroll in a program to move your energy use away from times of high electricity usage (for example, the early evening on a hot summer day). These programs help power companies avoid using costly energy, and those savings are passed along to all customers, as well as the extra bill savings if you participate.

Utilities are confident in the performance of their vendors and the equipment they are deploying as part of their grid modernization efforts. The meter make / model utilities selected undergo a variety of rigorous tests before they are approved for use in the field. The standardized tests are used to measure accuracy during various load and weather conditions; the tests are industry accepted and approved by the American National Standards Institute (ANSI).

Additionally, utilities have implemented an enhanced testing procedure where they test a percentage of all meters they receive from the vendor prior to installing them at a customer’s home or business. Utilities also continue to monitor meter accuracy after installation by conducting routine sample and/or periodic testing.

Certainly, utilities understand that with any vendor or equipment, problems can occur after installation, so customers are encouraged to contact their utility if there are ever any questions about the accuracy of the meter or the bill.