Smart energy

Posted on 23rd April 2024 by Streets General


Image to represent Smart energy

In a recent press release, the Department for Energy Security and Net Zero confirmed that consumers are set to benefit from cheaper and more convenient energy deals as part of new measures to create a smart, flexible electricity system to help save money on bills. They said:

“New proposals set out in a recent consultation will introduce minimum requirements for cyber security and grid stability, and minimum product standards for energy smart appliances to give consumers confidence to accept smart devices and make it easier for them to benefit from cheaper bills. Electric heating appliances with the greatest flexibility potential – like heat pumps – could also be required to have smart functionality.

“Smart appliances enable consumers to manage their energy use to benefit from cheaper tariffs at times of low electricity demand, for example a smart charge point which waits for a period of low-demand overnight to charge the car. This will reduce the consumer’s bill while also ensuring that their car is ready to be used in the morning.

“By shifting some electricity use away from peak periods, this will ease pressure on the grid and reduce reliance on backup fossil fuel generation and the need for new infrastructure like pylons, helping to save up to £50 billion by 2050. The use of smart systems and flexibility could create 10,000 jobs and increase GDP by up to £1.3 billion by 2050. A further 14,000 jobs could be created by exporting the technology.”


No Advice

The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.

Information

The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.


Expert insight and news straight
to your inbox

Related Articles


Cyber protection laws introduced

New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by law to meet minimum-security standards. Manufacturers will be legally required to protect


Act now to claim dormant funds

The Ministry of Justice has published an urgent warning for anyone with unclaimed dormant funds held by the Courts Funds Office (CFO). Recent changes in legislation have changed the rules for individuals or entities with dormant funds held by the


Post Office Offences Bill to be extended

The Government has tabled amendments to expand the territorial extent of the Post Office Offences Bill. Convictions resulting from the Post Office Horizon scandal in Northern Ireland will now be within scope. This blanket exoneration will


You might also be interested in...