EnergyAustralia has announced that more than 1.5 million homes and businesses in New South Wales can now get new electronic smart meters installed for free to help give them more control over their electricity bills.

The move comes after an investigation by EnergyAustralia of 10,300 household electricity accounts already using the smart meters and timed based pricing revealed that households were saving an average $45 a year on their electricity costs compared to EnergyAustralia’s standard domestic rate.

Managing director George Maltabarow said that all homes and businesses across the EnergyAustralia network could now get a new smart meter installed free of charge.

Mr Maltabarow said: These new smart meters are giving households more control over their electricity costs.

They allow households to pay less for electricity outside peak times that’s 82% of the time. At the same time these customers will help make the electricity network more efficient by evening out electricity use throughout the day, he continued.