Taiwanese company adopts smart meters

The advanced meters are intended to encourage conservation by accurately monitoring usage and are already used in the United States, Japan and Western European countries, the Central News Agency reported. By closely monitoring energy consumption, utilities can set differing prices for electricity based on the time of day or season.

Taipower has budgeted $52.5 million to deploy the meters for its initial commercial test base of 23,000 industrial customers. According to Taipower, industrial electrical high-voltage customers utilize about 58 percent of Taipower's gross power generation. Should the program proceed according to plan and assist in promoting energy efficiency, Taipower intends to install smart meters for 1 million industrial and residential customers within five years.

The first residential customers to receive smart meters include 9,500 homes in the greater Taipei area and 500 in Taipei's outlying Penghu County suburbs.