Australia’s electricity network is undergoing a major upgrade, with every home and building set to receive a smart meter by 2030 as part of an accelerated rollout. For strata buildings, this means preparing for coordinated installations of the new meters.
According to the Australian Energy Regulator, “Smart meters use digital technology to measure how much electricity you use every 5 minutes. Rather than having someone come to ‘read the meter’, your electricity usage can be shared with your electricity retailer automatically. The smart meter rollout aims to modernise the energy grid and improve energy efficiency.”
Many properties already have a smart meter; they’re required for solar panels or if the home was constructed after 2017.
When the final recommendations were made by the Australian Energy Market Commission in 2023 it was estimated that the installation of smart meters would provide net benefits to the value of $507 million for national electricity market regions.
AEMC Chair Anna Collyer said at the time, “Smart meters present clear benefits for consumers and form a crucial link for the wider energy system, paving the way for significant advances necessary to reach net zero.”
Energy Consumer Australia outlines the benefits of smart meters.
“Smart meters also open up new opportunities, including:
- installing new technology such as solar panels and batteries in your home or small business
- understanding your electricity use through the apps and online portals offered by many electricity companies (these can show when you use the most electricity, which can help find ways to save on bills)
- more choice in electricity plans, such as time-of-use plans, which can offer cheaper rates for people for using electricity at off-peak times
- a more efficient, effective energy system with fewer costly new poles and wires, bringing down costs to all consumers in the future.”
If your property has an older meter, your electricity provider will contact you when your building is scheduled for the switch. By law, you can’t opt-out of the transition. The swap normally takes about an hour and there isn’t any cost. You could request for your meter to be swapped over ahead of the schedule but this may incur a cost from your provider.
So what does this mean for strata communities?
Strata communities are included in the rollout. We’d recommend the owners corporation putting a notice in the common areas, alerting residents to expect to receive a call from their provider.
Meters in apartment buildings are usually grouped together in one place such as a shared meter room. If the meter room is normally locked, you may need to coordinate with your Property Manager.
If owners use different electricity providers, each provider may swap the meters over at different times – so for a period the building may have a mix of legacy meters and new smart meters.
If you share electricity with your neighbours, it’s best if the smart meters are installed together to make the process easier for everyone.
If you’re renting the property and the electricity account is in your name, the electricity company will contact you to arrange the swap.
For more information on the rollout, contact your electricity provider.
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