Are we too worried about smart meters - or is surge pricing looming?

Where do you stand on smart meters? This seemingly common sense technological advance in how we are billed for energy has proved hugely divisive. From concerns over security and surveillance, to a mistrust of energy companies, and a botched and sometimes accused of bullying rollout, smart meters have not proved the popular success it was hoped they would be. Now things have stepped up a gear, as an Ofgem change will lead to smart meters being able to send half hour updates to energy providers - opening the door for electricity pricing to change at different times of day. The idea is that this will help smooth usage and make the transition to green energy easier and cheaper, while saving customers money. That makes sense, why not charge your electric car or run the tumble drier when demand is low and so are prices? But it also creates the potential for a troubling scenario for many, where energy pricing is used to change our behaviour. Meanwhile, people also question whether private companies that sell us power are likely to give up profits and allow our energy bills to get cheaper overall.  On this week’s podcast, Georgie Frost, Lee Boyce and Simon Lambert look at the latest smart meter controversy and whether we are overthinking this. Also on this week’s podcast, there’s some number crunching on what people need to do to combat inflation’s effect on their spending, income and wealth. The team discuss the weird world of rising second hand car prices and used cars worth more than new ones. And finally, friend of This is Money, Dave Fishwick – of Bank of Dave fame – is going to be the subject of a movie. Lee updates on what Dave told him about that earlier this week.

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