An electric meter, also known as a kilowatt-hour meter, is a device that measures the amount of electric energy consumed by a residence, business or organization. The electric company uses the information from the meter to bill the customer for the amount of energy used. The electric meter is typically located on the outside of a building and is usually read by the utility company on a monthly basis. The meter records the total amount of electric energy consumed in kilowatt-hours (kWh). The reading is used to calculate the cost of the energy consumed based on the rate charged by the utility company. Some electric meters are now being replaced by smart meters, which allow for remote reading, and can provide real-time data on energy consumption.