Water and electricity meters across the islands will be replaced by "smart" devices in a €70 million investment that represents a world-first, according to the government.
Kicking off with a pilot project in the next few months, the aim is to switch Malta's 250,000-odd meters to computerised versions by the end of 2012, although the project could take up to five years to complete.
The new meters will take a reading every 15 minutes and transmit the information wirelessly to Enemalta and the Water Services Corporation. Apart from doing away with bills based on estimates and the need for a meter reader to visit homes every so often, the information will give consumers more control over their energy-use.
The new anti-tamper meters will help the government clamp down on fraud and electricity theft and can be connected or disconnected remotely.
Described as "a quantum leap" by Enemalta chairman Alex Tranter, the project will be carried out by a consortium headed by the multinational corporation IBM.
At the launch of the project yesterday, Guido Bartels, IBM global energy and utilities industry general manager, said that, while the past years have seen a transformation in telecommunications, the energy grid is still very similar to the way it was at its inception. Parts of Malta's grid, in fact, dates back to the 1970s.
WSC chairman Louis Giordimaina said the "revolution" will see an electricity grid reminiscent of the 1960s and 1970s turned into a modern one, which will help tackle the problem of non-technical losses.
Investments Minister Austin Gatt said the innovative investment will turn Malta into the first country in the world to have a whole-nation smart grid. It will also overhaul the present billing system, which has been in operation for more than 14 years.
The investment will include setting up an integrated electricity and water service call centre, which will allow the two corporations to provide clients with a one-stop-shop service for queries and information.
Dr Gatt said there is the possibility the five-year partnership could be extended for a further five years. IBM will also be setting up a local branch and a centre of excellence on energy and environment management, which will focus on research, innovation and development in this field.
The minister announced that a decision on the 100 megawatt generation plant planned for Delimara will be finalised in the coming days.