What's the difference between hot and cold sequence metering

In hot sequence metering, the tenant circuit breaker is located downstream (load side) from the meter. Turning off the tenant circuit breaker does not deenergize the meter. In cold sequence metering, the tenant circuit breaker is located upstream (line side) of the meter. Turning off the tenant circuit breaker does deenergize the meter. 

Understanding the difference when selecting between hot and cold sequence

You must select "hot" or "cold" metering when adding a utility meter to a switchboard. Hot metering means that the meter comes BEFORE the main disconnect, while cold means the meter comes AFTER the main disconnect.

Utility companies generally specify whether they use hot or cold meters. Consult the local utility specifications, or look where the meter is placed on the one line in order to determine how to configure.

Select hot or cold metering within the utility metering compartment configuration.