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I have a smart meter. No problems. I believe it is just internet over the power lines. They send a high frequency signal along the grid. I do believe they are able to shut off power remotely, usually if they don't get paid. I like that I don't have some power company employee in my back yard reading a meter. It is Black Hills power co. Been like this for over 10 years. I guess technically, they can tell when you turn on heavy draw appliances. I have three generators as backup. I originally had the old dumb meter. Not sure why someone would opt out. The water company added smart meters a few years before the power company. The water meters have to be scanned by a guy in a truck.
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