"Smart" Power Meters for smarter power usage

In these near-recessionary times, these "Smart" power meters could help save up to six percent of your energy bills. Currently this is a pilot scheme that consumers can experience with the utilities provider, PPL corp. This scheme essentially helps consumers to continually track and reduce their power consumption through power meters. For this the power meters are enabled with power monitors that constantly display your power consumption. This is further backed up by PPL Corp's scheme which persuades consumers to use less power during peak hours by offering them cheaper rates at non-peak hours. This is expected to greatly reduce the overloading of grids during the peak hours and also will help power conservation. Though this looks very good on paper, we still have to wait and watch as to how effective and efficient these schemes really are. There is a very good chance of this being a ploy of the energy companies to lure unwitting consumers into volatile schemes whose rates vary wildly with the wholesale energy markets' demand-supply curve. On the other hand, if these schemes are really meant to reduce power consumption and also the power cost of the consumer, they definitely need to be lauded. That said, let's hope for the very best.

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Via: physorg