Over the past ten years many stakeholders including utilities, system operators, and regulators have been putting their priceless effort to modernize the electric utility delivery system, also known as â€œthe gridâ€. The grid of 21st century is being referred to as the â€œSmart Gridâ€. Since devices throughout the system have been computerized allowing utilities and operators to monitor and adjust activities from remote locations. Changes to infrastructure vary across geographical areas depending on population size, economics and population needs. Massive amounts of data are being generated from both the grid and consumer side leading to the next phase in the smart grid evolution.