This myth has been floating around for at least 30 years, that was when I first heard about it. Asked a good friend who has worked for a major electric utility longer than that, he told me to go ahead and stick one on my meter if I wanted, it wouldn't do any good and they usually leave them alone if they're not obscuring the readouts because they don't affect the meter's ability to measure kWh. They use both the spinning-wheel type of meters and the other types where you can't detect any movement, he said the result is the same on either, unless you've got a "scrapyard" type of high-power electromagnet it won't project enough of a field into the works to affect it. Also, when we were still allowed to pull meters at structure fires -- something the utilities get a lot more fired up about than a magnet now -- I've seen them stuck on both the housings and the glass (duct tape etc), obviously having been there for awhile. So the utilities hereabouts at least apparently don't care, leading to my belief that even a powerful rare-earth magnet isn't going to help with your electric bill. Just my 2c.:wink:
As far as a magnet affecting a databurst that is transmitted back over the power lines...not even gonna go there.:roll: