The new company is predicting energy savings of about 20% for business and domestic customers on the island, which has ambitious plans for renewable power provision.

The systems will provide real time data on customers' energy usage, and the company will provide smart phone and internet apps which will allow users to remotely control appliances, lighting and heating.

In a recent trial of 13,000 households, Maingate demonstrated that by using the systems households could save between 10% and 20% on their energy bills.

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