Not really.....I don’t know if we are talking about some different type of smart meter someplace, but the ones I am familiar with do not have the capability to interrupt the feed.
On a 200 amp service,(most common) for example. a 200 amp switch or contactor would be required.
Some years ago the Wisconsin Energy people offered a program where the customer would get a five dollar rebate applied to their monthly bill if they allowed WEPCO to add a switching device to their electric water heater. The idea was to reduce "peak" loading by shutting down your water heater for ten minutes at a time.
They could never switch off the entire load as the device was hard wired into just one 220 volt branch circuit. I got the rebate for years and never noticed a change in water temperature. Eventually WEPCO sent out letters announcing that they were abandoning the program. I pulled out their hardware just to be sure they didn't cheat.
The device operated like the X10 system which sent a pulse coded high frequency (100KHZ) signal atop the 60HZ carrier wave. Such hardware is very sensitive to line noise from lightning.
Regards,
GtG