What do you know about the "smart grid"?

that's like the automation of substation where an operator could control mesuring(voltage,power),switches  and more from a computer if we do that in larg scale in grid of a city that would be a smart grid .there is also smart home , thats control is by a mobile phone .

A smart grid is a modernized electrical grid that uses information and communication tecnology to gather and act on information, such as information about the behaviors of suppliers and consumers, in an automated fashion to improve the efficiency, reliability, economics, and sustainability of the production and distribution of electricity.