Joking aside, I didn't know meters had "LED ports on them(IR?) and assumed these sorts of devices would have to be complex and measure current somehow.
It's another place where I think "great, but I don't want it streaming to the cloud, can't I host it myself?". Follow up thought: I'll be much more willing to host things myself for internal use when SSDs are common enough to mean small computers can be completely silent.
In other words, this market may be like the fax machine, which was made obsolete by the Internet almost before it was introduced three decades or so ago ... yet, they're still around :-).
Now, back to the topic. I live in southern Ontario and virtually every building is heated by natural gas, and in more rural locals oil is more common, however the prices have begun matching between gas and oil where it has to be delivered. The only properties I see that are heated electrically are in apartment buildings where heat is only truly lost through far less than 1/6th of your property's surface area.
Natural gas is usually delivered in units of energy called "therms", oil is delivered by the gallon (or litre), and electricity is delivered by the kWh -- all of these measures of energy can be converted into kWh so could be displayed together in a single display.
Having an independent monitoring company (Gridspy or WattVision) whose sole task is to help you gain insights from your power usage data is more likely to benefit you than depending on a large power organisation to do so.
Also, the goals of measuring power for billing purposes differ from those of measuring power to save power.
If you are billing you want highly accurate, irregular samples, with a single meter per customer (no matter how many buildings that covers).
If you are trying to save power, you want affordable, perhaps less accurate sensors measuring as many different channels as possible at the lowest price possible. Gridspy takes this approach.
WattVision is providing you with what the smart meter solution should have been, today. It does that by giving you a single channel of accurate, fairly realtime online.
The roundtrip from your house and back sounds horrible to us hackers - but to the population at large it makes installation and router configuration non issues. It also makes software upgrades on-line much easier.
Watt vision counts these pulses. While keeping it simple, it does mean that WattVision is at the mercy of an existing meter to work.