Every UK household will have a “smart meter” with a real-time energy display by 2020, says the government. The smart meters, which will be mandatory, will send directly real-time electricity and gas consumption to energy companies. The scheme, which was announced on 11 May, is designed to raise consumer awareness of their energy consumption. It will also get rid of the need for meter readings and over-estimated bills. Although energy companies are likely to see their costs reduced with meter reading becoming obsolete, there are concerns that households could bear some of the costs related to the change of system. The scheme is expected to cost £8.11bn to implement.