The replacement of over 2 million electricity meters with the next generation electricity meter over a six-year period will cost some €1.2bn.

Like other infrastructure upgrades, the cost of the meter upgrade will be recouped over time in charges paid for use of the electricity network which means there is no upfront charge to have a Smart Meter installed.

The Commission for Regulation of Utilities has done extensive analysis of the plan and is satisfied that the investment involved represents value for money.

For more information on smart meters and smarter services go to the Electric Ireland Smart Meters page.

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