In recent months there’s been a lot of talk about smart metering and the wider subject of machine-to-machine communications. With well over 100% penetration of mobile phones in the UK, the promise of machines exchanging information over the mobile network offers operators a new opportunity for growth.

To explain more about the technology and the potential, we invited Ross Catley to join us for this week’s edition of The Fonecast. Ross has worked in the utility & telecommunications industries and is now a consultant who advises on smart metering.

Here’s an edited transcript of our interview.

In a special extended interview, Ross Catley speaks to Mark and James about smart metering in the UK. He explains the basics of 'smart meters', talks about the benefits for consumers and discusses the ways this technology will affect the mobile phone industry.

This week's edition of The Fonecast covers quarterly results from some of the industry's biggest names, along with stolen phones, stolen data, new jobs and legal action. There's also a conversation about smart metering and machine-to-machine communication with telecoms consultant Ross Catley.

Iain, James and Mark take their regular look at the week's mobile industry headlines - from quarterly results to texting sharks - and also talk to Ross Catley about the problems and opportunities with smart metering.

A new research report from analyst firm Berg Insight calculates that the number of smart electricity meters installed in Europe will reach 111.4 million at the end of 2015. That's a compound annual growth rate of 17.9% from 2009.

The report identifies France, Spain and the UK as the next countries in Europe where smart metering will become introduced.