Smart electric meters permit precisely timed measurement of consumption, enabling customers to continually monitor and control their consumption as well as reduce their electricity costs. According to an estimate by the German Federal Ministry for Economics and Technology, German households could save around 9.5 terawatt hours per year by using such smart electric meters. These meters would also enable the utility companies to provide their customers with cheaper electricity at certain times, thereby offering an incentive to obtain electric power outside peak load times. This scenario is already being tested in Austria, where Energie AG, which is based in Linz, has equipped 1,000 households with Siemens meters, so-called AMIS (Automated Metering and Information System).  And with great success: by 2009, 100,000 households will have been fitted with the AMIS meters, increasing by a further 400,000 by 2014.