The Government has given the go ahead to install around 50 million smart meters in all of Britain's 26 million homes and in most small businesses by 2020.

Ofgem will work with DECC and the energy industry to develop a framework to support the introduction of smart meters. The first phase of this work will see a prospectus published in summer 2010, which will set out detailed proposals for the regulatory and commercial framework, as well as define the minimum functions that all smart meters will have to deliver for consumers.
 
To read the DECC press release visit: http://www.decc.gov.uk/en/content/cms/news/pn139/pn139.aspx

Ofgem has produced a factsheet which can be accessed here: http://www.ofgem.gov.uk/Media/FactSheets/Documents1/meteringfs.pdf