LG Uplus IoT Energy Meter allows real-time/monthly electricity bill comparison and neighbor's electricity usage/bill comparison.

LG Uplus announced that it is taking the lead in preventing "progressive electricity bill shocks" during the summer by adding features to its energy management service, "IoT Energy Meter," such as real-time electricity bill and monthly estimated charges, comparison functions with neighbors, and advance notifications for progressive billing stages.

The IoT Energy Meter, an energy management service, is a differentiated service exclusive to LG Uplus Home IoT. The IoT Energy Meter provides information on total electricity usage and the current progressive tariff stage, as well as real-time current rates and estimated monthly charges. Estimated electricity rates and real-time usage are provided down to the second, and the margin of error has been minimized by reflecting the meter reading date, discount conditions (families with 3 or more children, 5 or more members, and welfare discounts), and the ownership of a solar power generator.

By registering your home information, you can receive comparison data on electricity bills and usage with your neighbors. Classified by housing type (apartment/single-family home/united multi-family housing), living area, and family size, the service provides intuitive icons and accurate numerical data regarding savings levels compared to the average of neighbors with similar conditions.

A feature has also been added that analyzes current usage patterns to notify users of their progressive tariff tiers in advance. This advance notification function is powered by big data analysis that combines customers' electricity usage trends with situational variables. By informing users of the tier in advance, it helps customers voluntarily reduce their electricity consumption. Customers can check the remaining days and usage until entering the next progressive rate tier, such as “entering tier 3 in 10 days (66kWh remaining)” or “expecting to end this month at tier 6,” through the IoT@home application.

A comparison of approximately 16 million households nationwide with households equipped with LG Uplus’s IoT energy meter showed that households using the IoT energy meter could save an average of 9% on electricity usage and up to 12,000 won on their bills, proving the energy and cost-saving effects of the IoT energy meter.

Existing users of the LG Uplus IoT Energy Meter can use all added features through an app update without a separate installation process.

LG Uplus is also holding a promotion to give away IoT energy meters for free to commemorate the improvement of the IoT energy meter's features. If you sign up for the IoT Plug, which allows you to control the power of home appliances connected to the IoT energy meter via smartphone, the IoT energy meter (66,000 won) is provided for free, and the IoT Plug (44,000 won) is offered at a 50% discounted price of 22,000 won.

Home IoT services are available for 1,100 won per connected device (VAT included, based on a 3-year contract) when using the 'One by one' plan. Since the 'IoT Hub' must be used to use IoT products, the monthly service fee is 3,300 won when using the IoT Energy Meter and IoT Plug together.

Ahn Seong-jun, Executive Vice President of LG Uplus’s IoT Business Division, said, “Using an IoT energy meter allows customers to check their electricity bills in real time and is notified of progressive tariff tiers in advance, enabling them to proactively develop electricity-saving habits and wisely overcome the national summer power crisis.”