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What Are the Benefits of Smart Meters?

Residents of New York City have been hearing more about smart meters lately. But if you’re not sure what to expect with a switch from old-fashioned meters, or if you’ve wondered, “What are the benefits of smart meters?” this post has the information you need. We give you a brief overview of how smart meters work, the benefits of smart meters, and how you can make the transition to smart meters as seamless as possible.

How Do Smart Meters Work?

No more physical reading by Con Ed

Just like smartphones and other personal devices can send information through the air, smart meters transmit information about your electricity use to Consolidated Edison (AKA Con Ed), New York City’s electrical utility provider. Because the data is sent directly from your meter to Con Ed, there’s no more need for on-site meter readings.

Smart meters use radiofrequency (RF) signals to communicate with Con Ed, utilizing technology similar to cell phones. Smart meters use safe levels of radiofrequency to protect NYC residents, including folks with implanted pacemakers and defibrillators. If you’re comfortable using a baby monitor, you should have no worries about signals emanating from a smart meter.

The Benefits of Smart Meters

Greater efficiency

Smart meters make using your electrical utility much more efficient. Since no physical readings are needed, staff at Con Ed are freed up for other tasks that help keep power running smoothly. You don’t have to be at home to let a meter reader onto your property, which is better for everyone involved.

Smart meters also reduce the chance of human error. You won’t get any more estimated bills either; your bill will reflect your actual electricity consumption because these new meters provide nearly real-time information to Con Ed.

More equitable electrical billing in multi-unit properties

The change over to smart meters has often gone hand in hand with electrical submetering. Rather than having one meter for the entire condo or co-op building, each unit is billed individually for its electrical use. This eliminates the need to divide up the electrical bill between occupants. And, of course, it means each unit is billed only for the electricity they use. If one condo owner uses a ton of electricity for a home office or portable electric heaters, others won’t be paying for it.

Easier to save money

Most people love smart meters because they help them save money. Because you can monitor your electrical consumption in close to real-time, you can make changes right away if you see your bill going too high. For example, you can:

• Turn down your thermostat.
• Use automatic timers or remind kids to turn off lights when they leave a room.
• Unplug appliances when they’re not in use.
• Use settings on your electronics that draw less power.

You can also set up high bill alerts from Con Ed if your electricity use is higher than you had budgeted.

Better for the city and its residents

Smart meters allow you to make choices about electricity use that help the environment. As well as reducing overall consumption throughout the year, smart meters let users see when they might want to reduce electricity use during times that strain the grid, such as during summer heat waves.

Other benefits of smart meters

• Con Ed can restore your power faster after a large-scale outage.
• Activation of new accounts is simple, like when a unit changes ownership or when a condo owner decides to rent out their unit.
• You can receive emergency notifications if power is out in your neighborhood or in wider areas of the city.
• It’s easier to integrate solar energy with the grid, which helps both solar power users and the city with reciprocal agreements.

What Do You Need to Know About Smart Meter Rollouts in NYC?

Essential information for an easy transition

So far, Con Ed has installed millions of smart meters, with many more expected to be rolled out soon. Meter installation has already been completed on Staten Island, with the other boroughs to be completed in 2022 and beyond. Some scheduled installations for 2020 and 2021 were delayed due to the pandemic, but Con Ed is working to catch up quickly.

Here are some of the most common questions we hear about smart meter rollouts:

Do I have to worry about cyber privacy with a smart meter?

No, Con Ed uses privacy protections with all smart meters. None of your personal or financial data are sent to the electrical utility, only information about your electricity consumption.

How will I know when I’m due to have a smart meter installed?

Individual residences and smaller properties should receive a postcard from Con Ed about three months before they are due for a new meter. Then, about 45 days before installation, you’ll receive a letter in the mail telling you how to schedule an appointment if one is needed for your installation (see below regarding inside installations).

Larger properties should schedule smart meter installation in advance. To do this, call 1-800-576-2005 Monday through Friday, 8 a.m. until 5 p.m. In many buildings, the property manager or superintendent will handle the installation and let you know when it’s complete. If you manage a condo or co-op building, you will want to discuss installation with the pertinent decision-making groups. Be sure to stay in communication with occupants about what installation entails and what they can expect.

Do I have to do anything during the installation?

If your meter is outside, with unlimited access to Con Ed, you don’t need to do anything. You’ll receive a note from Con Ed letting you know the meter has been switched and reminding you to reset your clocks, as power will have been shut off for a brief period.

If your meter is inside or behind a locked gate, you or someone from property management must be present for the installation. Your meter may be in your unit or a utility area accessible by building staff.

Can I opt out of getting a smart meter?

In some cases, you can opt out of getting a smart meter, although it’s not advisable, given the many benefits listed above. Also, keep in mind that even if you don’t want a smart meter as a dweller or property manager, you may be outvoted by fellow building occupants or property owners.

Additionally, if Con Ed is unable to obtain a physical meter reading on your property for four consecutive bi-monthly scheduled readings, you may be required to install a meter-reading device at your expense, so a Con Ed representative can read your meter from the street.

Once you have a smart meter on the property, you are required to allow Con Ed reasonable access if repairs or replacement are necessary. Failure to do so can result in fees and penalties.

If you have further questions about smart meters or if your property needs a licensed electrician to perform submetering now or at the time of smart meter installation, Bolt Electric is happy to assist you. Call us at 212-434-0098 today to schedule an appointment at your convenience.