KEY POINTS:
The meter reader's days are numbered. Mercury Energy has started rolling out smart meters to more than 300,000 of its customers across Auckland to allow more accurate and up to date power bills.
The new technology allows the meters to be read remotely, replacing physical visits by meter readers each month. New meters will be fitted near existing ones and customers will not be charged for them.
Mercury leases the equipment from metering services provider Metrix and says the savings through not paying meter readers and other efficiencies mean nothing will be added to bills.
Meter reading typically costs about $1 a month.
The meters store and electronically transmit information to Mercury rather than being a "dumb" device just storing information.
The new meters record use in 30-minute periods, which Mercury's general manager John Foote says will mean information for bills will always be accurate and up to date.
Mercury is the retail arm of Mighty River Power and is the latest to join the mass installation of meters.
Another state owned enterprise, Meridian Energy, has installed nearly 70,000 meters for 112,000 customers in Christchurch, Genesis Energy will install 600,000 in the next few years and Contact Energy 500,000 over the next five years.
Mr Foote says delivery of the new meters is the first step in what should be a fundamental change to the electricity sector.
"This could have the same impact on the retail electricity sector that electronic transaction technology did in the banking industry in the late 1980s and early 1990s," he said.
Remote meter reading offers greater convenience for customers with indoor meters, dogs, alarms and gates.
Metrix says the technology originated in the United States where such "self-healing" networks were used by the military.
Mr Foote said it would take about three years to install the meters throughout its network.
