The key argument for smart meters in the UK was to enable time based tarriffs that are much more sophisticated than the old cheap off peak electicity measured by installing a second "economy seven" or "white meter" containing a time clock.
To do that you need a more intelligent meter that can record changing consumption throughout the day.
Why do it at all ? To change people's pattern of use and even out load on the grid so that the country as a whole doesn't need as much generating capacity as it would without this levelling out.
The originators of the scheme estimated very big savings from the scheme but the development and rollout of the smart meters has been a car crash. Very badly implemented by the energy companies. A huge part of the potential saving has been wasted.
That said, if you want smart tarriffs like cheap overnight electricity for charging a car, a smart meter is needed to count your off peak use separately from your normal or peak time use.
To do that you need a more intelligent meter that can record changing consumption throughout the day.
Why do it at all ? To change people's pattern of use and even out load on the grid so that the country as a whole doesn't need as much generating capacity as it would without this levelling out.
The originators of the scheme estimated very big savings from the scheme but the development and rollout of the smart meters has been a car crash. Very badly implemented by the energy companies. A huge part of the potential saving has been wasted.
That said, if you want smart tarriffs like cheap overnight electricity for charging a car, a smart meter is needed to count your off peak use separately from your normal or peak time use.