1. A system for managing cost in a wireless enabled advanced metering infrastructure, the system comprising: (a) a remote server (b) a wide area network coupled to the remote server; (c) at least one access point device coupled to the remote server through the wide area network, (d) one or more wireless enabled meters coupled to each other and to the access point through a neighborhood area network; (e) one or more datasinks wherein each datasink is a wireless enabled meter capable of being a data coordinator and capable of receiving metering information from the one or more sensors, processing metering information, and transmitting metering information to at least access point; (f) wherein each wireless enabled meter is capable of being a routing node and an endpoint node; (g) wherein a first set of wireless enabled meters are configured to be one or more routing nodes and a second set of wireless enabled meters are configured to be one or more end point nodes based on a graph theoretic algorithm to reduce the cost of the advanced metering infrastructure.