Electricity remains one of the most vital resources for industrial, domestic, and agricultural applications. However, electricity theft has emerged as a significant challenge, contributing to substantial power losses and severe economic repercussions for utility companies. This study examines the role of smart meters (SMs) in minimizing electricity theft and reducing energy losses by transitioning from traditional analogue meters to advanced SMs equipped with automated billing and metering systems. Data collected from the SM system in the Akre energy distribution network reveal that, following the implementation of SMs, overall electrical power losses were reduced by 17.1%, while theft incidents decreased by 96.4%. These results demonstrate that the deployment of SMs significantly contributes to lowering total power losses and yields considerable financial benefits for both utility providers (UPs) and consumers. Moreover, the system enhances the ability to remotely monitor and control customer meters, allowing continuous oversight of meter readings without requiring physical visits. This remote functionality strengthens theft prevention measures, improves grid reliability, and reduces operational costs. The findings highlight the potential of the SM system in advancing power efficiency and promoting a more secure and cost-effective energy distribution network.