The UK’s Energy Minister Charles Hendry says rolling out its smart meters will benefit the country to the tune of £7bn ($11.1bn)
Mr Hendry added that smart meters will significantly slash the nation’s carbon emissions.
As the 2014 launch nears for the mass deployment of smart meters to millions of homes and businesses, the Minister vowed to keep “consumers’ interests at the heart of the programme”, reports ClickGreen.
“Smart gas and electricity meters will play a key role in bringing our energy management into the 21st century,” he wrote. “They will bring benefits for consumers, giving us more control over how we use our energy at home and at work, helping us to cut energy consumption save money and reduce carbon emissions.
“They will also help suppliers run their businesses more effectively. New products and services will be supported in a vibrant and competitive market in energy and energy management services.
The roll out will also support the development of a smart grid delivering improved network efficiency and responsiveness and supporting the uptake of electric vehicles and microgeneration.”
Mr Hendry added that the government programme involved every home in Britain having a smart electricity and gas meter with an In-Home Display which will show consumers how much energy they are using.
“Energy suppliers will be required to install smart meters in 28 million homes and two million smaller businesses in Britain, delivering over £7 billion net benefit to the nation.
The mass roll out of smart meters will begin in 2014 and be completed in 2019.
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