Smart metering has been rolled out with considerable success in a number of world wide markets including the United States, Italy, Sweden, Finland and Australia.
Smart metering, as defined by the Energy Services Directive and the 3rd Energy Package, is indeed simply an extension of current practice in the industrial and large commercial markets.
Anyone interested in smart metering progress around the world should visit this excellent web site maintained by Engage Consulting:
http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&msid=115519311058367534348.0000011362ac6d7d21187