hacking the prepaid electricity service

want ho hack ur electricity meter? well..... i've scrached my head for a while right now trying to figure out how this thing works.
the meter itself has no much significance since by default, it sends no electricity to ur house and if any wire connected to this meter is cut, the electricity goes off.
there 2 ways to hack this system:
1. you can open the device, remove the chip, put it into one of those classy chip programmers and just change a few values usually 1 or 0 for true or false or
2.you can use a random key generator to generate its value usually 14 digits. you can either choose to program the code itself or receive the real code from me on email. use C,C++ preferably. since the device has no way of communicating online, its ever offline.
3.  some of these things still run on magnetic fields n u can actually play around with the speed at which it bills u by either altering the magnetic field revolutions or use ur own ideas.

the only problem with the system is that once u tamper with its billing system, they r able to know at a later stage when the auditing is done and u'll still have to pay for the amount consumed so any ideas of avoiding these r very welcome.