@
meldrewreborn
All smart meters have an inbuilt battery backed clock. That clock is set when the meter is installed (the meter tech uses a program on a laptop/palm top) and the internal battery is usually good for the life of the meter. Same as a cheap Casio digital watch, or the BIOS in your computer.
The battery only ever needs to hold up the state of the clock, which is crystal controlled the same as any digital clock, for the times when the mains power fails. Yes, it will drift a little , but accuracy of time switching in electricity meters only needs to be +/- half an hour and the drift is probably only a minute or two a year.
Obviously, a connected and communicating smart meter can request a time reset after a power failure, which a non communicating one can't, but the built in battery backup usually takes care of most scenarios.
I will challenge the premise that standard meters aren't made any more. Of course they are. The UK is about the only country in Europe that went down the smart meter route. Most of the rest of Europe, and most other 230v 50Hz countries still use normal meters so the manufacturers are still churning them out. So the 'we can't get standard meters anymore' is nonsense.
And just for laughs, Germany, France, Hungary and a couple of others still in Europe use RTS and other countries are rushing to adopt it. It's just the UK that is the outlier here. But that's what happens when you put politicians and quangos in charge of things.