Further to davidob's post - below is ABC's article on the matter.
Print Email Add to My Stories
Electricity smart meters to be rolled out nationally By Online parliamentary correspondent Emma Rodgers
Posted Fri Jun 13, 2008 5:00pm AEST Updated Fri Jun 13, 2008 5:11pm AEST
Smart meters that tell consumers how much electricity they are using at any time of the day will be rolled out across the country after an agreement made today between the country's energy ministers.
The metres can measure energy consumption in half-hourly intervals.
Different charges can applied by energy companies at different times of the day and consumers can then adjust their usage accordingly.
The technology also enables energy companies to read meters remotely.
Federal Energy Minister Martin Ferguson says by 2017 more than half of the country's old meters will be replaced by smart meters.
"Smart meters can provide major benefits for consumers, empowering them to take control of their energy bills by providing better information, new choices in off-peak pricing to save money, and new services to manage appliances and increase their energy efficiency," he said.
Smart meters may also encourage consumers to use less in high-charge peak periods, taking the strain off power generators during times of high demand, such as in the summer.
"It's not only good from a consumer's point of view but also the point of view of the generators at large - because as you can appreciate we are talking about very significant capital investments," he said.
The rollout will be implemented using a national regulatory approach.
"There will be a common approach to the regulatory issues so as to avoid the 'rail gauge' issues that has occurred in areas of economic activity int he past," Mr Ferguson said.
While the charge of the smart meters to the consumer will be higher on electricity bills, Mr Ferguson expects this to be offset by savings in power costs.
In Victoria the meters are already compulsory and they have also been rolled out across New South Wales.
While the use of the meters are supported by environmental groups such as Greenpeace, who say they make people aware of their carbon footprint, some claim that they lead to higher bills.
Last August, South Australian Energy Minister Pat Conlon told ABC TV's The 7.30 Report he thought smart meters would punish poor people.
But Mr Ferguson says the changes should not leave consumers out of pocket.
"We actually think that we'll get the rollout with very little cost to consumers, but you'll in the process create a consumer benefit if they actually fully utilise these," he said.
"They'll be able to potentially reduce their costs by having better consumer information about the cost of electricity at any given time."
AHL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
(20min delay)