A first phase of the scheme has seen 160 gas meters and 86 electricity meters fitted at council offices, schools, depots and other buildings across the city.
A second phase is due to get under way this month, while some schools will get their meters in the February break.
The new smart metering will cost 238,000 a year, but it allows officials to track hour-by-hour how much gas, electricity and water properties are using and to take action if usage appears to be too high.
Officials hope that the meters could allow around 700,000 of savings every year.
Dave Anderson, the council's director of city development, said: "There will be a reduction in the council's carbon footprint through the improved management of energy and water."