This table from the Energy Information Administration at the DOE indicates some estimates of the cost per mile of constructing different types of power lines:
60 kv, wood pole: $120,000-130,000
230 kv, steel pole, double: $230,000-550,000
230 kv underground: $3,700,000
Yes, that’s 3.7 million for a single high voltage wire, per mile. And that was in 1995 dollars.
Now tell me that installing smart meters, especially in larger industrial and commercial customers, is more expensive than that. Spare me.