This paper analyzes the results of providing smart meters and appropriate feedback on electricity consumption in a pilot study involving around 1000 households in Latvia. The findings from the study have shown response from feedback at 11.4% for an average and 8.6% for median of relative consumption reduction extrapolating the pilot results to all households in Latvia. Therefore, it can be suggested that a higher consumption saving level should be used in cost benefit analysis of rollout of smart meters at least in Latvia that would improve CBA and increase the size of the planned rollouts. It is additionally supported by the fact that for the households with annual consumption below 2500kWh the relative savings were found above the average level. This result would need additional study as in general there is expected that at low consumption levels there is also a low effect from provided feedback.