The water company has said that customers have cut their bills and helped conserve the water daily throughout 2024.
It has already installed more than 350,000 of the free meters, with the aim of fitting a total of 400,000 in households and businesses by the end of April.
The advanced technology benefits people across Coventry, Warwickshire, Birmingham, Leicestershire, and Shropshire by reducing water usage and consequently saving money.
Severn Trent said the smart meters also enhance their ability to plan water supplies and detect leaks.
This early detection helps in quick fixes, preventing millions of litres of water loss.
Anthony Hickinbottom, green recovery programme manager for smart meters at Severn Trent, said: “Leaks over time can cost people a lot of money, whether that is on bills or damage caused to properties.
“Our free smart meters are able to identify leaks much quicker, meaning we can alert the householder and help to get the problem fixed within days.”
He said the company might ask people to take a video of their leak and upload it via their VYN (Video Your Note) app.
This allows engineers to assess the situation and provide free advice on how to fix it.
If the customer cannot fix it, they are put in touch with the nearest recommended plumber.
The water company’s smart meter programme is part of its broader plans to help customers reduce water consumption.
It predicts some UK regions could face water scarcity by 2035.
The Consumer Council for Water has also suggested other ways customers can save money.
These include switching off taps when brushing teeth, which could save £100 a year, changing to a low-flow shower head for the same savings, and cutting out two dishwasher runs per week by only running full loads, which could save £75 a year.
Cutting out two washing machine runs per week by only running full loads could save £50 a year, while fixing constantly dripping taps could save £90 a year.