Law360, New York ( June 5, 2014, 10:15 AM EDT) -- In the "Internet of Things," where common, ubiquitous objects in the world have network connectivity, the smart grid has the potential to be one of the largest and most common applications. Advanced Metering Infrastructure ("AMI") enables utilities to lower the cost of data collection since meters report their data automatically, provide quicker reaction to outages, better monitor electricity theft and have better links between the actual costs of generation with consumption through time-of-use pricing and demand-response products. In addition, smart grid technology allows utilities to better monitor transmission lines and manage substations as well as integrate microgeneration, such as solar or wind. As a result, utilities can benefit from more uptime, lower generation costs, less capital expenses and improved efficiency and reliability....