The state utility of Montenegro, in South East Europe, has confirmed it will install 175,000 smart meters by May 1, 2014.

Elektroprivreda Crne Gore (EPCG) began the roll-out of an advanced metering system in December 2011, a project worth €43.5 million.

By the end of 2013, 150,000 households had smart meters. Nearly half of all consumers will have become part of the remote meter reading and smart meter manegement system by May 2014, the utility said.

Stefano Pastori, executive director of EPCG, said: “The project of installing new electronic meters for remote reading is of strategic importance to us.

“Implementation of this project will contribute to the transformation of the grid of EPCG into a modern, energy efficient one.”

According to the company, positive results arising from this project will lead to its extension and installment of an additional 80,000 new smart meters.

Montenegro is in accession negotiations with the European Union to become an EU member state.

The European Bank for Reconstruction and Development financed €35 million of the smart metering project.