New technology will spell the end of estimated billing, save homes money, make energy use more efficient and cut carbon emissions, according to the Department of Energy
and Climate Change. It is estimated that the smart Meter scheme may help people save £28 a year, but installing the meters will cost between £7 billion and £9 billion, about
£340 per household. The Government wants to see 47 million meters installed in 26 million properties by 2020.
Consumer groups welcomed their introduction but expressed concern that domestic users would end up paying for them when suppliers would benefit most from their introduction.
Under the existing metering system, meter readers physically enter homes to check the dials and displays that record home energy use, but with smart meters, the readings are
transmitted automatically to suppliers around the clock. The meters will come with separate real time displays that can be kept elsewhere in the house such as the hallway.
The plans, which also confirm that each meter will include a standalone display device, have been welcomed by the big energy companies.
Smart meters for every home. The Independent, Dec 03.