U.K. Says Smart Energy Meters May Save $5.5 Billion (Update2) (Bloomberg)
Tuesday, May 12th, 2009May 11 (Bloomberg) — The U.K. Department of Energy and Climate Change said advanced energy meters will be fitted in all the country’s 26 million homes and may save as much as 3.6 billion pounds ($5.5 billion) over the next 20 years.
The government’s preferred model for providing the meters by 2020 is for energy suppliers to install and maintain the devices while communication from the units is coordinated nationwide by an outside party, the London-based department said today in a statement.
The U.K. is looking at ways to reduce household energy bills, curb consumption and limit carbon dioxide output as it seeks to slash emissions 34 percent by 2020 from 1990 levels. So-called smart meters provide live readouts of energy use and transmit the information to utilities, providing more accurate billing. They also measure electricity produced domestically, including solar and wind power.