The growth and development of various modern industries lead to the increasing demand of electricity in our society. As one of the most important electricity metering equipment, smart meter is essential for everyone in the daily life. This paper will introduce the status of current industrial electricity first, then discuss the using condition and the failure reason of smart meter in Sichuan Province due to its special geographical environment. By comparing the relative merits of smart meter between 2009 edition and 2013 edition, the passage will show a new generation of smart meter based on IR46 standard. The design of new double-core smart meter is provided with its exterior structure, the internal functional division and the data transmission mode. The last part of this paper will illustrate the advantages of double-core smart meter to the old edition, show the feasibility and the necessity of new generation smart meter.