Abstract
Intelligent Energy Networks are comprised of devices capable of fulfilling their functions in an energy-efficient fashion and with communication and remote control capabilities. Therefore, some of these devices, such as smart energy meters, become attractive for use in the power generation and distribution industry, achieving the vision of Smart Grids. However, many are the challenges that need to be overcome in order to reach a fully-functional and security-aware smart grid. Providing measurement, control, communication, power, display, and synchronization capabilities shall be no easy task for smart meters. In this context, this paper elaborates on a detailed description of the main functionalities that smart meters must provide, along with the analysis of existing solutions that make use of smart meters for smart grids. Moreover, open challenges in the topic are identified and discussed. By the end of this research piece, the reader should be able to have a detailed view of the capabilities already offered by smart meters and the ones they will have available in order to tackle the challenges smart grids present.