A large number of people in the UK are missing out on cheap electricity because they do not understand the benefits of installing smart meters.
This is according to new research from E.ON that revealed more than three-quarters of individuals are not taking advantage of the technology - which could save a typical home four per cent on its energy bills.
The study found six out of ten people would reduce their gas and electricity usage if they were able to visualise their consumption through the use of such a device, but despite the potential savings, there's still a widespread lack of understanding about the purpose of smart meters.
While 60 per cent of respondents claimed to know what a smart meter is, only 45 per cent could correctly explain how it works to better control a home's usage.
Head of customer learning for smart meters at E.ON Jean Fiddes noted technology is playing an increasing role in people's lives and smart meters can become a key part of this.
She explained the ability to easily visualise usage on a daily, weekly and monthly basis means individuals will have "increased transparency into their daily energy habits, providing accurate bills and greater management of their finances".
And she said customers are demanding more accurate bills and greater control over their gas and electricity usage, which smart meter technology can help to achieve.
The devices could also be useful for business electricity users, as research by Opus Energy found many companies are keen to take advantage of the items.
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