Installing a smart meter ended up costing Mount resident David Lockwood a £400 cooker.

But the new technology can help you save money on your gas and electric bills — and help you to waste less energy, which is good for the environment.

They're part of the government's plan to reduce carbon emissions, and everyone will be offered one by 2020.

But how do they work — and how can they save you money?

Here's everything you need to know.

What are smart meters?

Smart meters are gas and electricity meters that automatically send your meter readings to your energy supplier. They come with a smart energy monitor that shows you how much energy you’re using in pounds and pence as you use it.

Why are they being introduced?

They’re part of the Government’s plan to reduce carbon emissions by making it easier for homes around the country to control their energy use, reduce their bills and cut emissions.

Consumers are being warned that they are paying too much for their energy
Consumers are being warned that they are paying too much for their energy

How do smart meters help me?

They put the consumer in control of how much energy they’re using as they use it – by seeing how much it costs to boil the kettle or do the weekly wash. Smart meters automatically send meter readings to the supplier, meaning no more meter readers calling. They also mean the customer gets accurate bills every time rather than estimated ones. Smart meters will also make switching supplier easier and quicker.

How do they work?

Most of the smart meters that are being installed today use mobile phone-type signals to send meter readings to your supplier and other wireless technologies to send information to the in-home display.

British Gas engineer installing a new smart meter

When are they being installed?

Everyone will be offered smart meters by 2020. The Government is requiring energy companies to install smart meters for their customers and has set out rules to ensure that they do this in a way that is in the interests of consumers with rule around data access and privacy, security, technical standards for the smart metering equipment and meeting the needs of vulnerable consumers. Smart meters will be rolled out as standard across the country by the end of 2020. Installation is free of charge, but there is no legal obligation on individuals to have one.

How do I get a smart meter installed?

Contact your energy supplier. A selection of links to some suppliers’ smart meter pages can be found on the Smart Energy GB website – www.smartenergygb.org