I can imagine the POCO being unhappy with one of their meters getting ruined with the water in it. maybe not, the linemen may just swap it out and toss the bad one in the back of their truck, and someone at a maintenance shop throws it out rather than bother with it. What do meters like that cost, remembering that a POCO buys huge quantities?
Incidentaly are service enterance conductors allowed to be laid directally on roofing shingles
I wouldn't want it on the shingles, if there ever were a short circuit the wires would get hot and ignite the asphalt shingles. Actually, I like what my father had done when he built the house; underground lines to the meter on the basement wall, then immediately to a pair of big fuses in the "service equipment". No cable running down the side of the house getting hot if a short happens.