Smart meter rip off in Victoria

UntitledIf you suspected that our (un)smart meters were a rip off, somebody recently gave me a clue and here it is…The introduction of smart meters in Victoria may have been a costly exercise for consumers but it’s proven a big money spinner for a handful of Australian entrepreneurs. Cameron O’Reilly, scion of Heinz food empire, former chief of  APN, along with John B. Fairfax, Smorgon family and Kerry Stokes are a few of the high-profile names to have made a killing from the sale of smart meters. They were major shareholders of Landis + Gyr, the company with about 56 per cent of market in deals to supply electricity distributors in Victoria. Their big payday came in 2011 when O’Reilly sold Landis + Gyr to Toshiba for $US2.3 billion…eMeter Corporation, meter data intelligence department of Siemens, average cost of smart meters sold to utility companies in the US is $221, and in Europe $272. A spokesperson for Australian Energy Regulator (AER) confirmed Victorian distribution companies paid an average of $346 to their suppliers. Powercor paid the highest at $423.

Looks like charge for our residential smart meters will rise above $200 this year!! Additionally, elsewhere in the world, smart meters come with NBN superfast internet and wifi. But not here, dudded again.


About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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