Money and power is being saved by many of the thousands of Christchurch residents now getting accurate readings from their new 'smart meters.'

Arc Innovations is the New Zealand leader in developing and deploying the meters and has successfully managed the first large-scale advanced metering network in Australasia.

Chief Executive Simon Clarke says installers, electricity retailers and householders are noticing savings in power and money.

"We have installed 125,000 of our advanced meters and are hearing stories of happy customers," he says. "These meters give accurate readings and bills to 99% of customers every month.

"The old-style meters needed the readers to have access to homes and that wasn't always possible, so some customers went months without getting an accurate reading and often got a shock when the estimates were corrected into actual readings. Our meters transmit the power consumption data without anyone setting foot on a property, so not only can the meters be read accurately every month, there are no security concerns for customers - or scary dogs for readers."

Ari Sargent, Chief Executive of Powershop, says some customers are using the combination of advanced meters and the internet to make savings.

"Advanced meters mean no more manual readings or estimates, so bills are based on accurate information, which people are using to buy power on line," he says. "This means they can take advantage of different rates on different days, weekend rates and any special deals on offer.

"We know of people using the real and accurate data to change their habits about how and when they use power. For example, using their clothes dryer only at weekends, when they can take advantage of our 20% discount weekend tariff offer."

Grant Benvenuti, Field Services manager for Contact Energy, says the potential for the ways the smart meters data can be used to assist customers is enormous.

"Contact Energy is launching a new plan based on the data from the new meters. It will enable customers to make better decisions about when they use power, especially in low cost periods. We are excited about having a plan that, when used with advanced meter usage information, can lead customers to get increased value.

"This comes on top of the current benefits of no more estimated readings, no inconvenience for customers when we read the meter and the ability to resolve most account inquiries quickly and easily without the inconvenience of arranging access for a contractor"