She added that it is also vital to help make energy usage and related costs "visible".
Ms Russell stated: " Some of the work that is being done with smart metering to actually help you see your own energy costs is really useful for small businesses as it lets them see what they are using and lets them take control of some of those costs and see how the changes they introduce have an impact."
UK Power recently launched a new free online smart meter to help consumers keep track of their gas and electricity costs.
The online tool allows users to enter two meter readings, with the smart meter then working out the expected costs for the usage.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.