Smart electricity meters are set to be installed in homes across Northern Ireland from 2028 onwards.
While more than 22 million have been installed in homes in Britain and a further two million are in use in the Republic, they are currently not used in properties in the north.
Announced on Tuesday, economy minister Caoimhe Archibald said that they could allow for homes and businesses here to save money on bills.
Read more: What we know about the £30 electricity credit scheme for Northern Ireland households
Here’s everything you need to know about smart meters and what they could mean for you when they’re introduced.
Smart meters are expected to allow customers to save on their electricity bills PICTURE: JACOB KING/PA What are smart meters?
Smart electricity meters record usage in the same way that traditional meters do, but provide real-time information to both the consumer and suppliers on their electricity usage and cost.
The meters use a digital screen to show usage and cost in real time.
Why are they being introduced?
Smart meters mean that manual meter readings will no longer need to take place.
They remove estimated bills and provide more accurate electricity bills.
They also provide faster detection and response to faults or interruptions on the electricity network.
The Smart Electricity Meters Design Plan was launched on Wednesday PICTURE: AARON MCCRACKEN/PA
They are also considered greener as they allow for more efficient energy use – helping consumers to understand when it’s best to use electricity to reduce costs and emissions. They also allow for better electricity grid management.
Will there be an extra fee to install a smart meter?
Consumers will not be charged any additional fees for their installation.
The department said that all consumers already pay for metering services as part of their electricity supply.
There will be no separate fee for a smart electricity meter installation.
They will be rolled out over several years.
Smart meters are already widely used across Britain and the Republic PICTURE: PA/ALAMY STOCK PHOTO
Residents will be informed by NIE Networks and their supplier when it is time to change over.
Will they save you money on your electricity bill?
Smart meters will allow households to make informed decisions about how and when they use electricity.
Using the information from the meter, a consumer will be able to reduce energy costs by shifting some electricity use to times when demand is lower and prices are cheaper.
This could include running the washing machine or dishwasher at off-peak times, or charging an electric vehicle when electricity is cheaper.
The meters will not get rid of the option for pre-paid electricity, but will provide an online top-up as well as wider options for tariffs.
Economy minister Caoimhe Archibald said: “The cost of energy here, driven by volatile fossil fuel prices, is not fair and not sustainable for homes and businesses, as we have seen in the months following the war on Iran.
“Today’s announcement marks an important step forward for the north, supporting consumers to better manage their electricity usage and helping to reduce electricity bills, as well as creating greater resilience in our local grid.”