1. An apparatus for electric power grid communication comprising: an active grid element having a function or a participation within an electric power grid, the active grid element constructed and configured within a housing for electrical connection and IP-based network communication with a server associated with the electric power grid; wherein the active grid element is automatically and/or autonomously updated and is operable to transmit or receive an update message with the server; wherein the update message, if received by the active grid element from the server, transforms the function or the participation of the active grid element within the electric power grid by updating at least one attribute of the active grid element; wherein the update message, if transmitted to the server, includes information about the at least one updated attribute; wherein the at least one attribute of the active grid element is selected from a revenue grade metrology for the active grid element, capacity or demand of the active grid element, security of the active grid element, settlement of the active grid element for its participation in the electric power grid, an active grid element profile, and combinations thereof; and wherein the at least one attribute of the active grid element corresponds to the function or the participation of the active grid element.