UK billing and web-enabled managed services company Abacus has joined the European Smart Metering Alliance (ESMA).
The ESMA is aimed at extending awareness and deployment of smart meter billing technology as well as defining and promoting best practice across Europe.
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Smart metering devices cut energy wastage by providing highly accurate information on energy consumption to enable more effective energy management by users.
The simplest form of a smart meter allows energy consumption to be monitored in money terms rather than kWh, and can be linked to prepayment systems.
According to the UK's National Energy Action group (NEA), studies in the US, Australia and Norway have shown that when households receive feedback on their energy consumption, savings of 10% to 15% can be achieved.
"Harnessing technology that allows energy consumption to be monitored and managed is understandably top of political and environmental agendas," said Karl Willis, chief executive at Abacus.
The ESMA project is designed to build on the Energy End-Use Efficiency and Energy Services Directive (ESD) adopted by the European Union in December 2005.
All EU states have until 2008 to implement the ESD, which requires customers to be given real-time, accurate information on their energy usage.