Embodiments of the present disclosure provide method, system and computer program product for privacy preserving smart metering. According to one embodiment of the present disclosure, a plurality of customer-encrypted meter readings are received, each of the plurality of customer-encrypted meter readings being encrypted by a customer using a customer key, then a summation of customer keys is obtained, next the plurality of customer-encrypted meter readings are summed, and the summation of the plurality of customer-encrypted meter readings is decrypted based on the obtained summation of customer keys.