Re: Smart meters a waste of money, Letters, May 6, 2011.
This summer BC Hydro will take a major step forward in moving to a more efficient electricity grid as we begin exchanging old meters for new smart meters.
While the letter writer is correct in noting the program represents a significant investment, it is wrong to suggest the program is not needed and without benefits.
The smart metering program is making much needed improvements to our electricity system at no added cost to our customers.
As the recently released business case for the program demonstrates, this initiative will in fact pay for itself through reduced theft of electricity, new energy savings and new operating efficiencies.
Over 20 years the program will deliver $1.6 billion in total benefits for a net benefit of $520 million.
These savings will keep your current and future BC Hydro rates lower than they otherwise would be. Importantly, over the next three years alone, smart meters will save BC Hydro customers money by reducing rate pressures by $70 million.
Chief project officer, BC Hydro