Up to approximately 42% reduction in electricity bills when using IoT plugs simultaneously

With the continuing heatwave this summer leading to an increase in cases of exorbitant electricity bills, the number of subscribers to IoT energy meters, which provide real-time and monthly estimated electricity rates, has surged.

LG Uplus announced on the 24th that sales of its energy management service 'IoT Energy Meter' increased by approximately 2.5 times in August compared to July, as nationwide interest in electricity bills increased due to the continuous heatwave.

The number of subscribers to IoT Energy Meters increased by 237% in August (as of August 22) compared to July. Given the current growth rate, the increase in subscribers by the end of August is expected to exceed approximately four times that of the previous month. As of July, the cumulative number of IoT Energy Meter subscribers was approximately 12,000 households.

The number of IoT energy meter usages on LG Uplus's home IoT application IoT@home also increased by 136% compared to the previous month. This is interpreted as an increase in cases where household members actively save electricity by actually using IoT energy meter services, as the number of households installing IoT energy meters increases.

In fact, a joint survey by LG Uplus and the Korea Energy Agency showed that households equipped with IoT plugs, which allow for smartphone control of power from home appliances connected to IoT energy meters, could reduce electricity consumption by approximately 12% and electricity bills by approximately 26% compared to the same month of the previous year. In particular, households in the 50-pyeong range were able to save approximately 18% on electricity consumption and 42% on electricity bills.

The energy management service IoT Energy Meter is a home IoT service provided exclusively by LG Uplus among the three major mobile carriers, and it provides information on total electricity usage, the current progressive tariff stage, as well as real-time current charges and estimated monthly charges.

In particular, it analyzes current usage patterns to notify customers of the progressive rate stage in advance, helping them to proactively reduce their electricity consumption. Through the progressive rate stage advance notification function enabled by big data analysis, customers periodically receive alerts such as “Entering Stage 3 in 10 days (66kWh remaining).”

Meanwhile, a package product is being sold where if you sign up for both the IoT Energy Meter and the IoT Plug, 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.

With the 'One by one' plan, you can use it for 1,100 won per connected device (VAT included, based on a 3-year contract). Since the 'IoT Hub' must be used to use IoT products, if you use the IoT Energy Meter and IoT Plug together, the monthly service fee is 3,300 won, and when combining the device installment payments and the monthly fee, the customer only has to pay 3,911 won per month. This is cheaper than using only the IoT Energy Meter.

Device discount benefits are available through the LG U+ Home IoT dedicated online shopping mall (www.uplusiotshop.com) or phone consultation (1544-0107).

LG Uplus also actively promoted IoT energy meters through social media, and a Facebook post about a special offer on IoT energy meters and IoT plugs recorded approximately 300 shares and about 1,000 likes and comments, while sharing on KakaoStory exceeded 150, garnering significant attention.

“Customers can check their electricity bills in real-time through a smartphone application, whereas previously they could only be checked on the monthly bill,” said Ahn Seong-jun, Executive Vice President of LG Uplus’ IoT Business Division. “In particular, by notifying customers of the progressive rate stages in advance, customers are achieving an average electricity saving effect of about 10%.”