This presentation covers: why make a meter smart if it increases its price and the technology becomes obsolete before we deploy them all?; what do we need inside a smart meter - real-time response, accurate time and 2 GB of memory?; do households require energy measurements on a five minutes scale for real-time balancing?; privacy and markets (who owns the measured values? - is it the owner of the house? - and can they be used in a market environment for energy trading and other purposes?); and how utilities have to facilitate VPP (virtual power plant) communities. An alternative solution to the smart meter is the Intelligent Home System (IHS), which eliminates the need for the smart meter. Alliander is implementing IHSs in its service area. The speaker discusses the first results.