Here We Go Again

Within an otherwise fine tech intro article on SmartSynch's Universal Communications Model (UCM), comes the type of observation I wish were just fear mongering hyperbole:

Smart grid systems are currently riddled with security holes, but that hasn't stopped utilities from rapidly rolling out smart meters.

You think there's any research to back up this assertion? Or is it likely true cause that's the way we always build: capability first, security last ... if at all.