I propose to take Questions Nos. 261 and 262 together.
The installation of smart meters is a key enabler for the energy transition to a decarbonised system as outlined in both the National Development Plan and the Climate Action Plan. The move to upgraded digital meters will bring many benefits for energy customers by enhancing competition, making bills more accurate, providing customers with better information on their energy consumption and empowering them with new tools to make more informed choices about their energy needs.
Accurate energy usage information across the day will enable consumers to be more efficient in their use of electricity and save money, for example by using appliances off peak. This will, in turn, reduce the need for less efficient and more costly generation at peak times.
The National Smart Metering Programme is being coordinated by the Commission for the Regulation of Utilities with ESB Networks responsible for rolling out smart-ready electricity meters. This rollout commenced in September 2019 and is due to conclude by end 2024 when some 2.25 million electricity meters will have been replaced in our homes and businesses nationwide.
By end-quarter 3 2021, 493,877 meters have been installed, in spite of the challenges caused by Covid-19 restrictions during 2020-2021. The estimated number of smart meters that will be installed in 2021 will be approximately 400,000 with plans to install some 500,000 each year thereafter until the Programme's completion.