The largest electricity operators in Europe to roll out smart metering.

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The number of smart electricity meters are expected to increase rapidly across Europe as people struggle to gain control over soaring energy costs, a Swedish analyst firm said Monday.

The installed base of smart electricity meters in Europe will grow at a compound annual growth rate of 17.9 percent between 2009 and 2015 to reach 111.4 million at the end of the period, according to Gothenburg-based Berg Insight, a analyst firm specialising in business intelligence to the telecom industry.

"Providing consumers with detailed information about their electricity consumption the new generation of meters give customers control over energy costs and create financial incentives for energy savings", the organisation's chief executive officer Johan Fagerberg wrote in a statement.

"Moreover smart meters constitute the core building blocks in future smart grids that will incorporate a wide range of technologies related to renewable generation, distribution network optimisation and energy conservation".

The report identifies France, Spain and the UK as the next countries in Europe where smart metering will become introduced, following major rollouts in Italy and the Nordic region.

“In the past year, EDF, Endesa and Iberdrola – three of the absolutely largest electricity network operators in Europe – have launched large-scale pilots in France and Spain, respectively. Next year, these deployments will evolve into nationwide rollouts in these countries”, said Tobias Ryberg, Senior Analyst, Berg Insight.

“On top of that, the UK’s largest electricity and gas retailer British Gas has launched the first major smart metering project for residential customers in the country. These developments in combination with rollouts in several other European countries will drive strong market growth over the next five years.”