- Consumer defaults on payments of electricity and water bills
- Bypassing of the meter systems by consumers leading to loss in revenues
- Lack of accurate data recording or management
A desired reality
- Real time and accurate billing of consumption of electricity
- Prevent the losses in revenues by detecting leaks, bypass activities or such similar acts immediately with that information at the fingertips of the customer
- The consumer pays for only what they have consumed thus they remain in charge of their consumption and subsequently their bills
Managing revenues for the utility (as well as the municipal sector) is of importance especially in developing markets. On the one hand, as the cost of energy is rising daily, consumers look for new ways of cutting back on costs. These customers on the other hand, want to ensure that all users of electricity pay for their consumption.
The smart metering technology therefore, in managing the revenue for the customer, also helps the consumer to track his consumption, whilst at the same time, the customer is in a position to record accurately what is consumed and gets the revenue of the exact amount of energy used.
Some of the challenges faced by utilities at present
Utilities currently face critical challenges in electricity supply and control. The primary challenges encountered by some include revenue collection and control.
The current metering systems are not technologically advanced; as a result minimal effort is needed in tampering or even bypassing the meter.
Conventional meter readings are not conducted on a monthly basis; such factors affect the billing process which on many occasions does not match the financial system. Cut-offs can only be done manually, if done at all, as the customers tend to deny the utility workers entrance to their homes to conduct the meter readings.
Conversion from the conventional post-paid to prepaid system has proved cumbersome as it requires a new meter installation.
Apart from helping the end users i.e. the consumers/home owners control their electricity usage and bills, smart meters also help the principal customer (e.g. municipality) collect revenue in an efficient and time-saving manner, thereby providing advantages to both the customer and the consumers of electricity.
There are others who have equally realised increase in revenue collection, and reduced costs in maintenance fees.
In brief, the Palace smart metering systems, achieve the following:
- Management and Protection of Revenues: real-time data on consumption, leak detection + losses
- Results in the inculcating of a culture of consumer payment =cultural shift from non-payment
- Thus leading to reduced energy wastage = greening the environment and the world (efficient use of electricity only when needed or required=demand side management)
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