No, it is illegal and unsafe to do so. Other than some limited exceptions the utility owns and maintains the metering equipment. This includes electric and gas meters used for measurement and billing, and other equipment such as transformers on the ground or on a pole.  Removing or tampering with the property creates a safety issue, which may result in termination of service, and is considered a crime. If done improperly it can result in serious injury or death. Licensed electricians must contact utilities when work requires a meter to be removed, reset, or the power cut or reconnected at a customer premise. 

Smart meters are tested for accuracy and their primary function is measuring power usage. Similar to your old meter, smart meters will measure the energy that is used by residents of your home. The meter itself cannot and will not increase your bills. Your bills could actually be lower because smart meters and smart grid technology will provide you with personalized information and tools to decrease your energy usage. Old analog meters can stick or run ‘slow’ resulting in inaccurate bills. In cases like this, the smart meter will now provide an accurate reading of your energy usage.

The old meters are recycled.  Any newer, electronic meters utilities replace (such as solid state meters and OMR – offsite meter read – meters) are refurbished, tested and recycled back into the meter population until smart meters are installed in the area in which they are recycled. The older, electromechanical (dial) meters that are replaced are dismantled and all their components – such as aluminum, copper, glass et cetera – recycled.