Smart Grid is the technology that allows for two-way communication between the utility and its customers, and the sensing along the transmission lines is what makes the grid smart? Like the Internet, the Smart Grid will consist of controls, computers, automation, and innovative technologies and equipment working together, but in this case, these technologies will work with the electrical grid to respond digitally to our quickly changing electric demand. Smart Meter is supposed to build the foundation for Smart Grids. Next generation of Smart Meters will be embedded in the IoT environment and extend the application to a key component of Smart Grid Value chain.