'Grid' is an electrical network that performs functions like electricity generation, transmission, dispatch and control. The operation of present grid is less efficient due to some of its limitations such as electromechanical nature, one-way communication, centralized generation, few number of sensors and actuators, manual monitoring and restoration, limited control etc. With introduction of 'Smart Grid' phenomenon, the improvement in ITC infrastructure, management and control strategies are becoming advanced. This paper highlights the application of one of the Smart infrastructure components called as Smart Meter to prove the feasibility of smart management system by employing accurate load prediction in smart grid.