1. A stream of water went brattling.

2. All told, estimates the Brattle Group, a consultancy, the benefits from a smart grid could amount to $227 billion over the next 40 years in America alone.

3. Pilot projects show that this alone would reduce consumption by 6.5% on average, says Ahmad Faruqui of the Brattle Group.

4. Still, unless rates are linked to the level of demand, much of the benefit of smart grids will fail to materialise, says Mr Faruqui of the Brattle Group.

5. “Bakersfield is likely to slow down the installation of smart meters—not just in the United States but worldwide,” says Ahmad Faruqui of the Brattle Group, a consultancy.