Smart Meters Explained
Smart meters are being rolled out across Australia. By the end of 2026, most homes will have one. They replace the old spinning disc or digital meter with a device that sends readings to your retailer every 30 minutes. No more estimated bills. No more meter readers in your backyard.
What Changes With a Smart Meter
Real-time usage data
Your retailer knows exactly when you use power. Some apps show your usage in 30-minute blocks. You can see which appliances cost the most. Useful. Also slightly creepy.
Time-of-use billing becomes possible
With a smart meter, your retailer can charge different rates at different times. Peak (4pm-9pm): expensive. Off-peak (10pm-7am): cheap. Shoulder: in between. Whether this saves you money depends on when you use power.
No more estimated bills
Old meters get read every 3 months. Bills in between are estimated based on past usage. Smart meters send daily readings. No estimates.
Does It Save Money?
For most households, a smart meter alone does not save money. It enables time-of-use plans which can save money if you shift usage to off-peak hours. Run your dishwasher, washing machine, and EV charger after 10pm and you win. Run everything at 6pm and you lose.
The installation is free in most cases. Retailers replace old meters as part of the national rollout. You do not pay upfront unless you request an early install outside the rollout schedule.