May 12, 2009
Installing smart gas and electricity meters in every home in the country will cost the nation £9.3billion, it has been announced.
[efoods]The ambitious plan, expected to be completed by 2020, will allow power companies to read meters remotely and will mean the end of estimated bills.
Installation will work out at £340 per household and the Government claims customers will save money in the long term by seeing their costs and usage on a daily basis, and therefore be encouraged to cut back to reduce bills.
But there is an argument over how much of the installation cost should be met by consumers and how much by the ‘big six’ suppliers.
The smart meters will provide billions in savings to the likes of British Gas, allowing them to do away with thousands of meter readers and call centre staff.