In the last decade or so, we have seen technology being used to completely transform businesses, industries and markets, and our day-to-day lives. With smart grids, the same technology is set to radically change the way we generate, transmit and consume electricity Imagine as a consumer, being able to view and track your own electricity consumption on a real-time basis, so that you consume electricity according to the lowest tariffs that utilities make available on a real-time basis and thereby reduce your bills. Or imagine as a utility or a power company, being able to track consumption in real-time, manage peak load effectively and minimize electricity outages. These are just some of the possibilities that smart meters, as part of the smart grids, bring to the table. But first, let's understand what makes an electricity meter smart.
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