British Gas customers are set to benefit from a $957.6 million deal between British Gas and Landis+Gyr. The deal means Landis+Gyr will supply the majority of the 16 million smart meters British Gas will install in its customers' homes.
By 2020 smart meters will be rolled out as standard to homes and businesses across the country as part of a government initiative. They will replace current gas and electricity meters and offer the benefits of:
· An in-home display showing how much gas and electricity is being used as customers are using it — and the cost in pounds and pence
· Estimated savings of around 5 percent ($100) per year
· Meter readings sent directly to energy suppliers, putting an end to estimated bills