Smart metering and functionalities of smart meters in smart grid - a review

Reducing the power supply-demand gap and increasing reliability of power supply are the challenges of current energy management. Implementation of smart grid, smart meters and smart metering can be a possible solution for power demand reduction, efficient power supply management, and optimization of management resource usages. Smart meters include sophisticated measurement and calculation hardware, software, calibration and communication capabilities. For interoperability within a smart grid infrastructure, smart meters are designed to perform functions, and store and communicate data according to certain standards. In this work we discuss smart meter and various elements of smart metering, current state of the technologies related to smart grid, smart meter, advanced metering infrastructure (AMI), and meter data flow in smart grid. We also discuss standards related to smart meter, meter data format and data transmission, functions of smart meter, and functionalities of smart meters, currently deployed by utilities around the world.