The race is on to install 'smart meters' in 245 million households throughout Europe to meet a 2020 mandate imposed by the European Union.The energy companies say it will, but as the market is predicted to be worth some $40bn, they would hardly say otherwise. In the UK, the government wants to see all household electricity and gas meters replaced by 2020, as well as those in smaller non-domestic premises. In Europe, the roll-out is required by separate directives for electricity and gas. The Electricity Directive calls for full deployment of smart meters by 2022, with 80 per cent coverage by 2020. Domestic customers will be able to see information about their energy use through an integrated in-home display. More important than the real-time billing information, that will also give consumers more control over their energy use and carbon emissions, and create new opportunities for energy retail services, infrastructure management and renewable energy generation.