THE ESB yesterday said that it did not know if the Government's €1 billion "smart metering" proposals would lead to that level of savings.
The installation of smart meters in every home in the country has been a policy cornerstone of Minister for Energy Eamon Ryan since he took up office in 2007 and is now being explored by the ESB.
The energy utility is carrying out a pilot programme on the project over the next 18 months and also monitoring the success or otherwise of smart meters in other regions, particularly in California.
Smart meters are designed to operate like fuel gauges in cars, with consumers told how much electricity they use and at what cost.
Senior executives of the ESB indicated publicly for the first time yesterday that the technology was not yet fully proven and that the case had not yet been made that such a substantial investment would result in commensurate savings.
ESB chief executive Padraig McManus and chairman Lochlann Quinn were speaking at the all-party committee on communications and energy yesterday which was discussing energy prices.
Asked by Labour's spokeswoman on energy, Liz McManus, about the progress on the project, Mr McManus said that it was one of the foremost utilities in the world pushing the technology.
However, he said that the utility needed to take a prudent approach before making such a huge investment. That is why smart meters were being piloted over 18 months.
Mr Quinn added that rolling out smart meters would cost €1 billion and that would go on all consumers' bills.
