The rollout of Victoria's smart meters (or Advanced Metering Infrastructure) is a collaborative project involving Government, electricity businesses and consumer groups.
Smart meters are replacing the old mechanical metering technology with modern digital meters. To encourage the electricity distribution businesses to complete outstanding installations as soon as possible, new regulations announced in mid-November 2013 will require them to continue to install smart meters after the end of 2013.
The Victorian Government performed an extensive review of the smart meter program, which included a full cost-benefit analysis.
With more than 900,000 meters installed across Victoria at the time of the review, it found the most responsible option was to continue the rollout of smart meters with improvements that brought greater benefits to Victorian households.
Smart meters are installed and managed by electricity distribution businesses - the companies that own and manage the electricity 'poles and wires' assets, including our current metering systems. These companies are regulated monopolies, whose spending is scrutinised by the independent Australian Energy Regulator to ensure they deliver a reliable, 'value for money' service for all Victorians.