Re: Capable of encryption
"When the guy turned up, his version of the story was that there was nothing wrong with the meter but they replace them every decade or two on principle. "
I've been told that too - for mechanical meters, mainly so they can verify the calibration.
If it's codified then it becomes a way of forcibly installing a smartmeter over the objections of endusers, but as I've previously pointed out, not all smartmeters actually have contactors in them.
The big problem with smartmeters (and prepay meters in the UK) is that they're being used as an excuse to charge higher electricity rates, not as a way of bringing charges down.