BTW, it must be relatively easy for the utility (or for those operating the meters) to verify that the meter is located at the particular customer premises and is not stolen. That makes the utility well positioned not only to sell energy to subscribers but also to provide the client authentication service to interested parties.
E.g. the subscriber puts his private key to the meter (provided the meter will never leak it). Then, during a banking operation, for instance, the client sends a signed request to the bank that naturally wishes to verify the signature. To do so, the bank generates auth challenge message that also includes a one-time symmetric key, encrypts the message with the client's public key and sends it with the client ID to a known auth center where the utility is registered. The center identifies the utility to forward the message to. The utility, in turn, forwards it to the client's meter that can perform the verification as it possesses the client' private key. The meter, in the reverse way, communicates the response message encrypted with the symmetric key back to the bank. Something like this.