This paper presents the results of the analysis of Advanced Metering Infrastructure (AMI), one of the most widespread Smart Grid technologies as an alternative to conventional metering for the Colombian electrical grids. AMI is approached as a key element of the system by which enterprise and customer information converge, allowing the end user to access the functionality of a new metering infrastructure. The analysis considers the benefits of smart metering, compares experiences in other countries, the characteristics of the metering function, and regulatory and legal aspects particular to the Colombia case.