As with smart energy meters, it should mean more accurate bills.
However, it’s the “ability to spot leaks” feature that may affect us, as I regularly get letters from my water company telling me they think I’ve got a leak.
A little-known feature of smart electricity meters is the ability to disconnect a customers supply remotely if the energy company decides to (eg for non payment of a bill).
I wonder if they’ll be able to disconnect your water supply remotely because you fail to fix what they assume is a leak (but is actually just using the water for window cleaning).
They also advertise that it will enable the water companies to “manage demand”. That means only one thing - surge pricing.
In other words, they can charge more to customers who use more, or charge more at times of high demand / low supply (like a drought).
Personally I’ll refuse to have one installed until they make it compulsory.