The purchase and installation of the meters and the accompanying IT systems calls for an investment of about €94m.
Ericsson Estonia management board chairman Seth Lackman said that solutions similar to those offered to Elektrilevi have proved successful both in Europe and North America.
"With this project, Estonia will take a huge step towards becoming a network society, with the remote-readable metering solution contributing to the technological development of Elektrilevi," Lackman added.
International metering system provider Landis+Gyr will manufacture these meters. Under the Grid Code, all standard electricity meters in Estonia must be replaced with remote-readable meters by the end of 2016.
Under the procurement contract, the first batch of 5,700 remote-readable meters will be installed at the end of the year, while full-scale installation will be launched next year, and will continue until the end of 2016.
