Prepaid meters gain global popularity

Source:https://www.xenius.in/prepaid-meters-gain-global-popularity/

Efficient use of energy and its tracking and conservations are being attempted all over the world. To achieve all this, smart prepaid meters are now replacing conventional, electromechanical meters. Developing countries are, particularly, going for these in order to minimise human interference in metering, billing, and collection.

The global market for prepaid metering technologies is growing at a steady pace and is expected to become a formidable force in the near future. People around the world are now better informed, and more conscious, about energy efficiency and the need to track consumption of energy.

One of the biggest concerns of the electricity departments across the world is efficient utilisation of electricity. Earlier, power utilities used old, conventional electromechanical meters to track consumption of electricity. A department official had to go door-to-door taking meter readings. Errors in manual readings were inevitable and this invariably led to huge losses for the electricity departments, and also discontentment among the consumers.

• One of the biggest concerns of the electricity departments across the world is efficient utilisation of electricity.
• Timely payments of electricity bills cut down the huge losses which the power utilities had to incur earlier.
• Tracking and conserving electricity consumption is another key reason for the popularity of smart meters.
• Prepaid meters are now being preferred over conventional, electromechanical meters, particularly in developing countries.

With the advancements in technology, Internet of Things (IoT) and Artificial Intelligence (AI), electricity meters have evolved tremendously. The old conventional meters are now being replaced with smart prepaid meters around the globe. These smart meters provide better security and control for users, as well as the utilities. They enable users to pay for electricity consumption in advance. Also, these meters allow both the consumers and the utilities to keep track of the electricity consumption.

One of the benefits of smart meters is ensuring timely payments from the consumers. As a result, the gap between the cost of power supply and revenue realisation is minimised. Timely payments of electricity bills cut down the huge losses which the power utilities had to incur earlier. That is the precise reason that prepaid metering technologies are gaining popularity, not only in developed countries but also in the developing ones like India and many others.

Advertisement

Tracking and conserving electricity consumption is another key reason for the popularity of smart meters. There is a constant rise in the demand for energy security across the globe and energy conservation and its efficient utilisation are the major aspects of energy security. This has formulated into an increase in the overall sales of prepaid electricity meters around the world. Smart meters provide instant data of power consumption, which is then analysed by users to control the use and stabilise energy demands.

Prepaid electricity meters are now being preferred over conventional, electromechanical meters, particularly in developing countries. The electricity departments in these emerging economies are focusing on reducing their financial losses due to late payments, and at times reluctance of the users to pay their electricity bills. That’s why the use of smart prepaid meters has become mandatory in many countries with a view to minimising human interference in metering, billing, and collection.

Advertisements