Third of UK billpayers want custom tariffs based on smart meters

According to a new survey conducted on behalf of British energy supplier Tomato Energy, a third of billpayers in the UK want companies to use smart meters to create personalised tariffs that can help them save on costs.

According to the survey, conducted by Censuswide in June with 2,011 homeowners in England, approximately 55% of billpayers in the UK want energy suppliers to proactively ensure they’re on the cheapest tariff, while a third want companies to use smart meters to create personalised tariffs to save them money.

The survey further revealed that a quarter (25%) of household decision-makers doubt their energy provider consistently offers the lowest available tariff, while nearly 40% of people in charge of selecting their household energy supplier remain unaware of the tariff they are currently on.

According to the supplier, they are the first UK supplier to offer personalised tariffs using smart meter data.

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CEO of the company, Farouk Alhassan, said: “Tomato Energy is here to shake up the domestic energy market. Until now, the incredible volume of data gathered by smart meters has only served to save energy companies money by removing the need for meter readings.

“Now, we can use this data to develop personalised tariffs tailored to each customer’s unique circumstances, saving them both time and money. Whether the customers work from home, or they work a long night shift, it’s time to make smart meters work for the consumer.”

Over half of those surveyed said looking for another energy supplier is too time consuming (54%), too complex (53%) or too stressful (50%).

Additionally, according to the survey, 42.9% of respondents report that the only task less enjoyable than changing energy supplier is going to the dentist.

According to the supplier, such numbers highlight a frustration with the current energy market, with consumers finding the hassle of switching providers often outweighs the potential savings.

Added Farouk: “So many customers are staying with their current supplier, not because they’re happy, but because they don’t think it’s worth the time and effort looking for an alternative.

“Years of underinvestment in the energy sector have left us reliant on outdated systems and the inflexibility and complexity has been letting customers down nationwide. Our survey found it takes UK households nearly two hours to decide on switching energy suppliers. This process could be made so much easier.

“By harnessing modern technology, we can rebuild our energy systems for the future, enabling customers to fully benefit from their smart meter by offering a personalised experience to ensure they’re on the most optimal tariff for their lifestyle,” said Farouk.

Incorporated in 2015, Tomato Energy supplies 4,000 commercial customers and over 10,000 domestic homes in south England.