Page last updated on 16th March 2026

How smart meters are saving families money

Energy reward schemes are available to households with a smart meter. These could help you save money. Consumer finance expert Steph McGovern sits down with some families benefitting from these schemes to find out more.

What's on this page?

How 87% of people are saving with an energy reward scheme
Video: Steph McGovern meets Michael and Johnny
Video: Steph McGovern meets Felicia and Naiema
Our tips on making the most of your energy reward scheme
Requesting your smart meter installation
Hear what real smart meter owners think

You could save money with an energy reward scheme

Flexibility could save your family money on your energy bills. New research shows almost 9 in 10 customers taking part in energy reward schemes say they're saving on their energy bills.¹

These energy reward schemes are available to smart meter owners. When you sign up, you could be rewarded for changing your energy habits. Switching your energy use from peak times might mean you're charged a lower rate for energy or gain access other financial benefits.

We've teamed up with leading consumer finance expert Steph McGovern to find out more. She meets two households in the videos below to see how energy reward schemes have helped them save money, time and energy.

Steph McGovern meets Michael and Johnny

In the video below, Steph McGovern sits down with smart meter owners Michael and Johnny. They explain how their flexible energy use has helped them to save money.

video url

: [Consumer finance expert Steph McGovern is sitting with smart meter owners Michael and Johnny over a cup of tea. They’re chatting today about the benefits of energy reward schemes.]

Michael: I love our smart media display. I look at it quite a lot. It's in a prominent position in the kitchen. If I'm doing anything, if I put anything on, I'll see the impact it has.

Steph: Do you think you look at that more than your phone?

Michael: Oh no. Steady…

[Everyone laughs.]

[Text appears on screen, which says: 87% of smart meter owners who are part of an energy reward scheme are saving money on their bills. Steph McGovern is meeting Britain’s flexible families to find out more.

Steph: Johnny, Michael, thank you very much for having me. It's lovely to be here. I'm interested to hear about how you're using your smart meter to take advantage of an energy reward scheme. Can you tell me a bit about that then?

Michael: It's super easy. Our energy company sends us a message on the app to say, "Try to avoid using electricity at this time," and we get rewarded for doing so!

Steph: So how has being part of the energy reward scheme changed how you use energy?

Johnny: We were already tracking our usage with the smart meter display, so now we know when to spend and when to save!

Steph: How do you save then?

Michael: Well, we'll get a notification via the app. I'll put it in our diary to say electricity is going to be cheap at this time, and then we'll know to plan around it. So we might wash up a couple of bits by hand rather than having to put the dishwasher on or delay the washing machine until we know it's going to be cheaper.

[As Michael talks, we cut to footage of the couple doing the dishes and putting on their laundry.]

Johnny: Yeah, absolutely. When we get the notification, then it's go time!

Steph: [Laughing] What's go time?

Johnny: We charge the car, put the dishwasher on, we'll do some batch baking…

Michael: Including some of my master bakes!

Steph: It makes sense though, doesn't it? If you're getting cheaper electricity.

Michael: Oh, it makes so much sense. The amount of money you can save is considerable.

Johnny: You just run the house so much more efficiently. Brilliant for the planet as well.

Steph: I love that.

[The image cuts away to the Smart Meters logo, as Steph narrates.]

Steph: Search ‘get a smart meter’ to find out more.

Steph McGovern meets Felicia and Naiema

In part two of this mini-series, Steph McGovern meets flatmates Felicia and Naiema. With a smart meter, these friends would benefit from the perks of an energy reward scheme.

video url

: [Consumer finance expert Steph McGovern is sitting with smart meter owners Felicia and Naiema over a cup of tea. They’re chatting today about the benefits of energy reward schemes.]

Steph: So where's your smart meter display and how often are you looking at it?

Felicia: So it's on our kitchen countertop. We look at it a little bit.

Naiema: Yeah, I probably look at it a bit more often, maybe when the heating's on, when Felicia puts it on and leaves it on.

Felicia: I want to feel like I'm in Barbados!

[Everyone laughs]

[Text appears on screen, which says: 87% of smart meter owners who are part of an energy reward scheme are saving money on their bills. Steph McGovern is meeting Britain’s flexible families to find out more.]

Steph: Okay, you guys don't use any energy reward schemes, do you?

Naiema: I didn't know about them.

Felicia: If I knew, I would have been the first person to get it.

Steph: Are you surprised you didn't know?

Felicia: I’m surprised I didn't.

Naiema: I’m surprised you didn't know, to be honest.

Felicia: She's always on the internet looking for discounts.

Naiema: I’m a discount Queen!

Steph: Well, this is good news because I'm about to help you with all of this! So do you plan in your house how and when you use energy?

Naiema: Not so much, but we do things to save energy. So like I'll make sure the washing machine is a full load. We'll share the oven. We do cook together.

[As Naiema talks, footage is shown of the housemates happily cooking together in the kitchen. It’s clear they’re good friends.]

Steph: So could you be more flexible with your timings?

Felicia: I work from home, so yeah, I guess I could be…

Naiema: And I would have to plan it around my work schedule.

Steph: Well, I've got something for you. You're going to love this. A reward scheme would definitely suit a household like yours. So what you need to do is just sign up to a reward scheme, then you'll get an alert from your supplier. So depending on the scheme you sign up to, you'll be encouraged to use more or less energy at certain times and then you'll be rewarded for doing that.

[Steph is demonstrating how easy this can be on her iPad. Felicia and Naiema watch her with interest.]

Naiema: Okay, so there's better times to do certain things?

Steph: Yeah, exactly that. So you will be financially rewarded for using your energy flexibly.

Felicia: Naiema, we can do that!

Naiema: We can do this!

Felicia: We can do this...

[The image cuts away to the Smart Meters logo, as Steph narrates.]

Steph: Search ‘get a smart meter’ to find out more.

Our tips for how to make the most of your energy reward scheme

Know how to earn rewards

If you're signed up to an energy reward scheme you'll need to look out for a notification from your energy supplier that tells you when it's running. Energy reward schemes might offer financial benefits for using more energy during off-peak times, or less energy during peak times. Check with your supplier for the specific terms of your scheme.
Check which appliances use the most energy

To have the biggest impact, and make the biggest savings, you'll need to know how much energy you're using. Knowing which appliances use the most energy can help you decide how to move your energy use. For example, washing machines and ovens tend to use a lot of energy. You can find out how much energy your appliances use with help from your smart meter's in-home display.
Make sure you're set up with a smart meter

You will need a smart meter to take part in energy reward schemes. Your smart meter will need to be working in smart mode and sending readings every half an hour. Your energy supplier should be able to install a smart meter for you at no extra cost.