In a frankly shocking display of common sense for a Tory MP (calm down Arthur), Adam Afriyie suggests that they might not be the best option for consumers, as there are ways to get the advantages they offer (especially allowing consumers to monitor and control their own usage) for a lot less than the £11bn it will cost to replace every meter.
http://www.theregister.co.uk/2014/07...am_afriyie_mp/
Of course, the new meters will enable the utility companies to accurately track usage, and, if necessary, cut off the consumer. All without the need for a person to come and read the meter. It will also allow them to accurately judge the supply needed in a given area. All of this will enable them to reduce their costs, but that's not why we are being told that smart meters are being installed.