In response to the deficiencies in the operation and maintenance of China’s power grid regarding the replacement of expired smart meters and batch sampling rotation, a rotation strategy for estimating the operation error of smart meters based on data collected by the metering automation system was proposed. Firstly, a smart meter operation error estimation model was established on a per-transformer-area basis. Secondly, a regularization method was adopted to solve the ill-conditioned situation of the estimation model. Finally, based on rolling calculations over multiple time windows and a comprehensive evaluation mechanism, smart meters for rotation were selected for field verification. The effectiveness of the proposed strategy was verified through practical examples in the power grid