Exposed Green & Yellow cable on electric meter

[Conshine]

I have my electric meter outside the house.
There is a green and yellow striped cable coming out the bottom and it is quite exposed.
Its down the side of the house, nobody goes down there, so no danger of anybody tripping over it.

A few questions:

1) What is it for ? Earth?
2) Should it be covered up, or enclosed somehow?
3) What if it got broken somehow, in its current state, that could be a possibility, if somebody clipped it with a bike, wheelbarow etc.

Thanks

 

[STEINER]

It is an earth wire/cable with the green/yellow colour insulation.

Unless it is vulnerable to accidental damage or children messing with it, it should be ok.

It would be easy to cover the wire with some sort of plastic sheath or ducting or plastic pipe etc.