Smart meters are just, well, smart. They allow real-time
pricing (f.ex. off peak electricity is less expensive than
during peak demand), something that has a big impact on
people's behavior. It basically rewards virtue: If you pay
attention, you can save more, and if you don't, you'll pay
more.
Texas utility Oncor is working with Swiss smart-meter
company Landis+Gyr to roll out 3 million advanced meters by
2012. The bill is expected to be $690 million dollars, and
will be first paid by customers (directly or indirectly),
but over time it will more than pay for itself in
electricity savings and a reduced need to built new power
plants.
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United States, Washington D.C.
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