Re: Pull the plug then
"in plain English [...] your electricity supply can be cut off remotely."
The single most expensive component in the official smartmeter spec is probably the Off switch.
Why does an electricity meter (a usage monitor) need the expense of an off switch, in fact a remotely controllable individually addressable off switch? It needs a remotely controlled off switch like a fish needs a bicycle.
There is another purpose for the remotly controlled off switch, but the disastrously low penetration of smartmeters mean they won't even do that job effectively.
Stock up on LED torches, if you haven't already done so. Just in case.