Smart Meters will be rolled out under a national framework following agreement from the Australian, State and Territory Government Energy Ministers at the 15th Meeting of the Ministerial Council on Energy.
Smart meters are electricity meters which measure energy consumption in half-hour intervals, enabling time-of-day pricing, and providing two-way communication, allowing energy providers to read and control features of the meter remotely. They will also allow communication between the meter and devices in the home, such as air-conditioners, hot-water systems and in-home displays to monitor energy use.
Minister Ferguson said: "Smart meters can provide major benefits for consumers, empowering them to take control of their energy bills by providing better information, new choices in off-peak pricing to save money, and new services to manage appliances and increase their energy efficiency.
"For example, smart meter functionality will enable energy-efficient cycling of energy-intensive appliances such as air conditioners without affecting comfort levels in the home. By regulating the use of the air conditioner's air compressor, consumers will benefit from reduced energy use at times when energy costs are highest, enabling consumers to save on electricity. This is just one of the benefits from the rollout."
"Smart meters will also change the way the energy market operates, creating major savings in network costs, increasing retail competition and reducing growing peak demand. This will put downward pressure on overall energy prices.
"Greater consumer empowerment and operational efficiency are both critical steps in moving the energy market towards a more efficient greenhouse future."
The MCE also agreed to align technical and safety regulation for workers in the energy industry. This work will be overseen through the establishment of an Energy Technical and Safety Leaders Group, comprising technical and safety regulators and representatives of relevant segments of the energy supply chain.
Minister Ferguson said: "Worker safety has always been a top priority of the energy sector. The national harmonisation of safety regulations will not dilute the safety regime, but it will standardise best practice across Australia. This will make it easier for workers to transfer their skills across borders, and reduce business compliance cost where companies operate in more than one jurisdiction."
An implementation plan will be provided at the next MCE meeting.
Media contact: Michael Bradley – 0420 371 744