1. The AEMC has issued a draft rule to accelerate the deployment of smart meters from July 2024.
2. The draft rule aims to achieve a full rollout of smart meters across the national electricity market by 2030.
3. The proposed rule includes reforms to provide cost savings, better energy system management, network access to power quality information, and improved customer experience with smart meters.
The Australia Energy Market Commission (AEMC) has released a draft rule aiming to accelerate the deployment of smart meters by July 2024. This decision follows a previous one in March to expedite the process with the goal of a full rollout of these meters by 2030 in the national electricity market. The draft rule focuses on two main reforms to offer customers and the energy system the benefits of smart meters more quickly.
The first reform involves speeding up the deployment of smart meters to achieve cost savings, support a modern energy system, and provide customers with immediate benefits. The second reform aims to improve network access to power quality information to better manage networks, reduce costs, save energy, and minimize safety risks.
The draft rule includes additional reforms such as customer safeguards, improving the customer experience, reducing installation barriers, and enhancing meter testing and inspections to optimize costs and efficiency. AEMC chair Anna Collyer emphasizes the benefits of smart meters for consumers and the broader energy system, highlighting their role in advancing towards net-zero emissions.
The accelerated replacement of legacy meters is projected to bring net benefits of Au$507 million for various regions in the national electricity market. The draft rule is the initial step in a larger initiative to modernize Australia’s energy system, with the AEMC planning to implement further regulatory reforms including access to real-time data from smart meters, starting on July 25, 2024.