A while back a contractor I know was telling me a story of how he ran across a fellow whom was trying to save himself some money by re-attaching his 400 amp meter socket to his home. From what I was told someone struck the meter on his garage and it was falling off the building so he cut the tab and opened the meter (BIG NO NO) anyhow the contractor told him he should contact the local power co. and let them repair it. Well he decided he didn't need to for whatever reason and while he was putting the lag bolts back into it he dropped something and it went across the lugs and sent him flying a@@ over teakettle. What surprised me is he is still alive to tell about it however I believe he knocked power out to his home and then probably had a lot of explaining to do with the power co, and possibly some fines. This picture is only an example.
If you are not an electrician DO not mess with the meter #1 it will kill you, if it doesn't kill you the next time the meter reader comes to get a reading and they notice the little tab has been cut they will probably cut your power or fine you. If they do cut your power it will probably be quite some time and a lot of explaining to get it turned back on. So if your meter needs repaired call an Electrician or your local power co.