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> all Smart Meters that the net maintainers installed (are required to) support the P1 standard

Does that support monitoring each power circuit separately?



Not likely, you’d need a CT around the phase conductor(s) of every circuit. The meter likely only has CTs around the 2 (3) phase conductors on the incoming service drop.

It is entirely possible to meter each individual circuit, either with CTs and a meter or (gross simplification) special breakers that have metering capability built-in.




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