Lots of controversy regarding smart metering. Some feel they are an invasion of privacy, since they record power usage patterns. They allow two way communication and can communicate to the internet and provide customer information, historical cost graphs, real time cost displays, etc. via the utility websites and require only a password to access the account. That seems to worry people who fear hackers or law enforcement may profile users to detect grow lights used for marijuana grows or other "private" usage history. Information which is now supposedly only available by court order. The industry faces installation mandates in the next few years.
Salt River Project in Phoenix installed a million meter pilot program to see if customers really paid attention to the information provided on the website regarding usage and cost. The first few weeks showed strong interest and lots of "hits", but those dropped to nearly zero within a few months and usage pattern remained basically unchanged.
But, they're here to stay. It's all tied into the "Smart Grid", which in some people's opinion is an easy target for those who wish harm to this country. The technology is still in the growth phase and there are lots of different vendors out there, mostly varying by the method of communication.
As far as load shedding, they can provide customers with cost incentives if they allow the utility to remotely turn off air conditioners in summer or set back thermostats in winter during high usage periods to reduce brownouts or rolling blackouts, but as far as I know, participation is optional. Remote disconnect/reconnect has been around for quite awhile, along with "time of use" rate systems. Smart meters just make things easier. Would I worry about one on my house?...probably not.