Real-time smart meters could reduce UK fuel bills by up to 27 per cent or £5.5bn a year, according to research by Logica CMG.

The average household with an electricity bill of £350 a year could save more than £90 a year.

More than three quarters of respondents to the 10,000-strong 10 country survey believe smart meters are a good idea. Half said they are unaware of the energy they use, but 72 per cent said they would reduce consumption if they knew.

In the UK, financial considerations are the main concern for 62 per cent of consumers. But 73 per cent worry about climate change.