A system and method for providing an additional option function to existing functionality of a meter device configured for measuring parameters of energy is provided. The meter device is coupled with an option device for exchanging data between the meter and the option devices along at least one data path, including exchanging initialization data provided by the option device between the meter device and the option device, wherein the initialization data is useable by the meter device for configuring the meter device to be in condition to operate with the option device. The data exchanged between the meter device and the option devices are processed by at least one processor. Upon the coupling of the devices and the exchanging of the initialization data, the meter device is operated with the option device for adding the option function to existing functionality of the meter device.