"It just allows you to manage, target-set and drive down consumption," he remarked.
Businesses looking to minimise the costs of their energy usage might want to team smart meters with a cheap electricity supplier in an effort to reduce their outgoings.
Mr Gore explained small and medium-sized enterprises typically spend between ten and 20 per cent of their total costs on fuel and added some firms have managed to reduce their outgoings by as much as five per cent through the use of smart meters.
However, he added the saving "depends on the company" and how well it sticks to targets that have been set.
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