Security researchers warn that US utilities are currently deploying thousands of smart meters that could easily be hacked.

"The security weaknesses could potentially allow miscreants to snoop on customers and steal data, cut off power to buildings, and even cause widespread outages, according to a number of experts who have studied the meters and looked into smart-grid systems," writes CNET News' Elinor Mills.

"A new paper out of the University of Cambridge highlights privacy concerns from smart meters, as well as security risks caused by linking home-area networks, of which smart meters are an initial piece, to utilities," Mills writes.

Click here to read the CNET News article.