Britain’s smart grid plan to fuel regional smart electric meter market

Local businesses and households across the Great Britain are reported to very soon cross the eligibility threshold to buy and sell their own energy without the interference of a middleman. Apparently, under the ambitious ‘smart grid’ plans that Britain plans to unveil this week, Britain businesses can conveniently purchase energy within the domestic energy market, which analysts presume, would have quite an impact on the regional smart electric meter industry as well.

As per reports, the smart grid plans come on the heels of the belief that network operators such as UK Power Networks, Scottish Power Networks, and SSE Networks hold – these networks apparently believe that smart technologies could contribute toward creating regional energy markets across the nation, that could work alongside the national transmission system. Essentially, the plan revolves around the power from electric vehicles or solar panels on commercial or residential properties being sold back to the network. Alternatively, they could also be sold directly to households, using blockchain technology.

The presence of smart home devices such as connected appliances and meters is apparently a prime indication that individual households could play a crucial role to match Britain’s rising variable supplies of renewable energy, while simultaneously impelling the sales graph of smart electric meter market. ENA’s chief executive, David Smith, had been quoted stating that the overhaul is slated to help energy networks confidently balance more complicated energy systems, financially help UK’s electricity customers, and eventually contribute a valuation of close to GBP 17 billion to the UK economy over the coming decades.

As per the UK government, this smart grid plan, apart from commendably impacting the commercialization potential of the regional smart electric meter market, would eventually help the UK economy garner returns of close to GBP 40 billion. Furthermore, reports claim that these plans may also be the answer to ENA’s critics, who in the past had claimed that regulated companies are granted generous returns from The Office of Gas and Electricity Markets, Great Britain.