Installing a smart meter could help individuals to ensure they receive cheap energy bills and do not waste electricity.
British Gas has claimed the technology may be one of the best ways to reduce the £1.3 billion worth of energy that is lost each year by households in the UK.
Commercial director of smart homes at the firm Bryan Halliday said the recent Powering the Nation report by the Energy Saving Trust has "highlighted the scale of waste and a big opportunity" for improvements to be made.
It was suggested that switching to smart meters gives people the chance to "take control" of their household electricity usage.
Mr Halliday noted the devices provide individuals with the exact details of how much money they spend on energy, which will encourage many to cut their wastage and lower bills.
Environment minister Lord Taylor claimed simply switching off TVs, computers and other home electronics could save people up to £85 per year.
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