Smart meter investors could be cheered by the example of an Italian
energy firm that made back its investment after 3 years.

Alessio Montone, at Enel Distribuzione said the firm broke even on a
€2.1billion invested in smart meters in 2001 by 2004-5.

Mr Montone was addressing an audience of investors and distributers at
the Marketforce European Smart Metering Summit in London yesterday.

Enel’s example could offer reassurance to banks and investors, who are
expected to pick up the upfront cost of a mass rollout of smart meters
due by 2014.