Internet of Things (IoT) is the connection of objects using the internet that are equipped with sensors and communication technology. IoT Technology is a new paradigm envisioned as a global network of machines and devices capable of communicating with each other. This project presents using agent-based model to simulate the behaviors of IoT electric meters. A case study was proposed to investigate the applicability of utilizing IoT technology in Saudi Electricity Company (SEC). The agent-based model was built using AnyLogic software. Two different scenarios were applied, and simulation outputs were analyzed to recognize the importance of adopting IoT technology at SEC.