Around 70 per cent of electricity customers in Europe will have smart meters by 2022, according to a new report from research firm Berg Insight. At the end of 2014, there were 67.9 million smart electricity meters in the 28 countries within the European Union plus Norway and Switzerland (EU28+2 area), corresponding to a penetration rate of 24 per cent. By 2022, the installed base is projected to reach 199.7 million units. In a separate report, Berg Insight also predicts that around 40 per cent of all gas customers in Europe will have smart gas meters by 2020. At the end of 2014, there were 2.5 million smart gas meters in the EU28+2 area, corresponding to a penetration rate of around 2 per cent. By 2020, the installed base is projected to reach 49.0 million units.