Here is one companies Smart Meter implementation.
Their systems have been installed in both Canada and USA.
http://tantalus.com/sub_architecture.html
220 (higher power) and 900 MHz (lower power) packet radio links.
Tantalus supplies communications only. They do not get involved in the
actual metering. They take info from existing meters.
They do not require drive by vehicles to make readings.
The problem many power companies have is with peak demand. If they can
get users to use less power at peak times they can avoid costly system
upgrades to supply the peak power required. You know who pays for the
upgrades.
Lee VE7CC
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