What are Smart Meters ? and What are their benefits ?

What are Smart Meters ? and What are their benefits ?: "As the energy consumption is increasing day by day it’s an alarming time for us to conserve it and stop its unnecessary usage. Energy conservation will not only preserve the resources for the future generation but will also reduce the global warming. Smart Meters are the need of today’s era. It is highly efficient. It directly measures the energy consumed at the user’s premises with both the quantity and the time of its use. This detailed information makes the user understand the patterns and the volume of usage and giving him the quick access to his current charges. The smart metering is done in two ways communication from the meter to the supplier with a user friendly customer display placed at client’s own premises displaying the consumption, tariff and the other information conveniently. They store the data electronically as well as transfer it to the data collector or the utility company. Not only this the meter can facilitates various preferential tariff options beneficial to the user after analysing the time of use, time of day and the rising block etc. They are able to switch between profiles and tariff remotely. The clients can avoid the ‘Estimated Bills’ as they meter the on-site generation and export prices, hence no overpaying or underpaying."... (Click on title link above to read entire DIY article on smart meters.)...