Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

smart meter

A device that allows consumers to monitor energy consumption on a regular basis and in real-time. By immediately tracking their carbon emissions, in theory customers should be encouraged to turn off appliances when not in use and to curb their energy usage. Consequently, these actions should result in lower gas and electricity bills. The meters also send information about energy use straight to the suppliers to generate more accurate billing.

Smart meters also can offer consumers cheaper pricing...