Cost Benefit Analysis?
What's the benefit to the nation of smart meters?
I can see that energy companies might be keen to implement them, but that will only be if they can get the consumer to pay; left to their own finances I suspect they'll only implement them in new installations and where repair or replacement of existing equipment is necessary.
As far as a strategic national interest goes, then there is really only the "belief" that smart meters might encourage consumers to use less energy, thereby reducing CO2 output; but what is the CO2 impact of making a smart meter and installing it? It can't be zero, so the CO2 impact analysis has to take this into account.
From a security and crime perspective, smart meters are only going to add to the nation's attack surface; giving rogue nations and criminals the potential to remotely disrupt the economy using DoS attacks or interfering with energy consumption readings.