Electricity is an integral part of our lives, and hence its consumption should be monitored and controlled. In most cases, consumers find it difficult to monitor electricity consumption of appliances. This paper creates a unique platform for both consumers and the power generation companies and helps to reconfigure the loads based on the needs of the consumers. The proposed meter is designed using Arduino Uno and a Wi-Fi module. The real time data obtained by the proposed meter are stored in cloud storage and the same is sent to consumers via the digital mode using IoT. With end-toend energy consumption estimates, a user can know the projected monthly electricity bill, and once two-way communication is established, both the consumer and energy producer can effectively control loads, leading to responsible consumption and production. This system provides information with greater clarity and helps consumers to cope with their monthly/annual budget for electricity bill.