In the early 2000s, Secure provided over 1.4 million of the smart meters installed in Victoria. This was invaluable experience for us as a business and we learnt an immense amount. Alongside this, we have been a long-term supplier to other distribution network operators for the last 15 years.
Today we are perfectly poised to take a leading role in the Power of Choice reforms. The market led rollout of smart meters is going to need a clear understanding of customer benefits. As a retailer of both gas and electricity in GB, Secure is the only metering company that comes with intimate knowledge of what a retailer needs. Our solution in Australia, ready to deploy now, provides retailers with the maximum flexibility and minimum hassle.
During the summer of 2016 we crossed 350,000 customers in our Supply business, in GB. We did all of this while remaining profitable and delivering a great quality service to our customers. All of this was only possible because we used the power of smart meters and continue to do so. Today more than 85% of our customer base has a smart meter. Our customers love their smart meters, because we are able to provide them with a great service. At the same time we also provide them with a price promise. We have a single tariff for all our customers whether they are new or have been with us for years.
The goals of the Power of Choice legislation can be most simply achieved by deploying technology that is best suited to each Customer segment. At present we have developed meters and services that can be deployed for a number of these segments. There are a number of customers that find it hard to budget their utility bills and are frequently faced by “Bill shock”. Our budget controller and pay-as-you-go solutions will allow customers to pay their bills at their own convenience, while remaining in command of their usage.
The data we gather on retailers’ behalf can also be used to inform buying decisions and make the business more efficient in settling what customers actually consumed.
All in all, we have developed a platform that can be deployed easily today. While also providing retailers the ability to continually improve their business using it. The smart metering journey in Australia is only beginning and we are very excited to be a part of it.