EIB lends EUR 1bn to e-distribuzione for new smart meters

THE first €500m tranche of a €1 Billion loan to the Enel Group for the supply of smart meters in Italy has been assigned from the European Investment Bank (EIB).

The loan beneficiary is e-distribuzione, the Enel Group's electricity distributor with responsibility for installing the new “Open Meter”. The EIB will contribute to financing part of the plan’s investments over the period 2017-2021. Overall, the 15-year plan provides for the installation of some 41 million new generation 2.0 meters, of which around 32 million will replace the current first-generation meters, while the remainder will be used for new connections and customer requests.

Energy distributors must replace the meters currently in use with new generation meters in order to adopt smart measurement systems that meet EU energy efficiency requirements.

The energy scenario in recent years has highlighted the importance of timely management of additional, more detailed information that can benefit both electricity operators and their customers. The Open Meter technology will help to promote energy efficiency, enhance awareness of consumer behaviour, encourage competition in meter-related services and develop the home automation market.

Source and picture from EIB.

Monday 7th August 2017

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