There are two types now available: digital and smart. On the outside, smart meters and digital meters look the same, with an easy-to-read digital display, but smart meters also have built-in communications and programming to gather and send meter information remotely.
So, how reliable is the new technology? Ninety-nine percent reliable. Consistent with industry studies, during the Smart Grid Demonstration, MLGW retired less than one percent of their Smart Meters due to failure from power surges and/or lightning strikes. Additionally, MLGW's digital electric meters have a one percent failure rate, indicating that smart meters--which are digital meters with built-in communications--are no less susceptible to failure than MLGW's standard electric meters.