The concept was good until the Government got into it!
Automatic Meter Reading is big in the US, but our Add Ons, which utilised existing meters, were disqualified by the UK government of the time as a complete integrated Meter was their only acceptable option. In the US there are large towns with one meter reader nipping round once a month to read every meter, at speeds of up to 50 mph.
There was a fixed network option and more in development, but with no UK business prospect the owner shut down the UK office.
What the UK government has done to the utilities makes the implementation very costly until they improve aspects. There was talk about different suppliers having different smart meters, requiring a new meter change with every supplier switch.. Absolutely ridiculous. The protocol should be the same so that one electricity meter will do for all companies, one gas meter should do for all companies and one water meter should do for all companies. In fact there is no reason why it should not do for all three; ours used to.
If they can't get that right they should stop the Smart Meter project now. If they need help I am available as I have been since being made redundant back in 2007! when this raised it's head seven long years ago.
Apart from that, the main benefit of the meter is for the supplier, not the customer, and therefore the cost should be borne at source possibly by a government tax levied on suppliers so they can't shirk their responsibility.