The Australian Energy Market Commission (AEMC) has made a draft rule that would accelerate the deployment of smart meters to energy customers by 2030, bringing to life foundational recommendations from its smart meter review and placing consumers at the forefront of the transition to net zero.

The AEMC’s self-initiated review was published with several final recommendations including an accelerated rollout of smart meters, better information for customers ahead of a meter upgrade, new customer protections and improved data access arrangements for networks and energy customers.

“A number of Australians are already using smart meters to cut power bills, from those who have resources such as rooftop solar, to customers without solar who may be using smart meters to access cheaper tariffs,” AEMC chair Anna Collyer says.

“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.”

The accelerated replacement of legacy meters is expected to deliver net benefits of $507 million for national electricity market regions, including New South Wales, Queensland, the Australian Capital Territory and South Australia.

AEMC’s proposed reforms under the draft rule includes:

– Two core reforms, so that customers and the broader energy system can access the benefits that smart meters offer sooner.

– Accelerated deployment of smart meters, deploying smart meters to customers faster.

– Access to power quality data, improving network access to important power quality information.

In addition, the draft rule also includes four supporting reforms:

– New customer safeguards, protecting customers from potential cost risks by prohibiting any upfront costs ahead of a smart meter installation and increasing notification requirements ahead of tariff changes.

– Improving the customer experience, ensuring that customers can access the full suite of benefits that smart meters provide.

– Reducing barriers to installation, supporting delivery efficiencies and therefore cost savings in the accelerated deployment of smart meters.

– Improved meter testing and inspections, helping minimise costs and improve efficiencies for industry and customers.

The proposed rules in the AEMC’s draft determination would commence progressively, beginning 25 July 2024.