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A smart man once said that in most cases, "...integration trumps functionality..." [Eric I owe you a nickel]   Unless there is a specific capability of something that can't be found anywhere else and you have to have it, then integrating things together is a larger benefit to you.

Case in point- Cisco is entering the smart energy market with the device above and a cloud service connected to a utility company.   The goal like all of the other players in this emerging field is to make you aware of your consumption of electricity.  Hopefully, this will change your behavior and you will become greener.  Afterall, if you don't measure it, you can't change it or so the saying goes.

Cisco and a large number of newcomers are trying to figure out how consumers will use these devices and how utilities will leverage them to generate revenue.  These two goals seem to be at odds with one another.  Maybe the idea is that what you save by knowing what your consuming and changing your energy habits will be paid to the utility anyway in the form of a monthly fee for this type of device.  Otherwise, why would the utility want to help you use less electricty to decrease their revenue?

Any of these smart grid or smart meter solutions need to integrate with other home systems such as security, lighting, thermostat, etc.  The real power behind these solutions is how they can work together to save you money and make you greener while adding comfort, conveniences and security to your lifestyle.