The European Investment Bank (EIB) and ESB have signed a loan facility to support the roll-out of 2.4 million smart meters to every home, farm and business in Ireland by the end of 2024.
The EIB has agreed to provide €150 million ($178 million) to support ESB Networks national smart metering program, which is a key element of the National Climate Action Plan, supporting Ireland's transition to a low carbon electricity network.
The new €150 million ($178 million) 15-year loan will support the roll-out program, which started in Cork, Laois and Kildare counties in Autumn 2019 and is being delivered on a phased basis. By the end of 2020, it is envisaged that 200,000 meters will have been replaced and approximately 500,000 meters will be replaced in each of the four years thereafter. From 2021, electricity supply companies will be able to offer new smart services to customers with smart meters.
“Ensuring continued climate action investment is essential for Irel
