Conservative MEP for South East England, Richard Ashworth, has welcomed the announcement that smart meters will be installed in more than 7 million homes across the UK.
A £1bn mass roll out programme backed by the European Investment Bank (EIB) and six commercial banks will deliver smart meters to help reduce energy use.
The EIB will provide £360 million to the initiative, which will become one of the largest smart meter schemes in Europe, and a key part of scaling up the use of smart meters in Britain.
Smart meters contain a digital display that records consumption of energy, allowing people to monitor and manage how much energy is being used.
Following the announcement Mr Ashworth commented:
“Smart meters can offer a range of benefits to consumers, giving people almost real-time information. This will enable people to know exactly how much energy they are using and how much it will cost.
“The meters will help ensure households are only billed for the energy they actually use, meaning an end to sometimes costly estimated bills.
“The initiative will support the UK Conservative government’s plans to ensure that all homes and small businesses receive a smart meter by the end of 2020.”