In the given research evaluations were conducted of the security level for Advanced Metering Infrastructure (AMI) as a part of Smart Grid infrastructure. The solution for an AMI comes from the vendor of Aidon. The evaluations were conducted for various usage scenarios for an AMI. The major focus was on Smart Meter. The security level has been calculated by using a novel methodology called the Multi- Metrics approach. The necessity of security level evaluations is based on the fact that the Smart Meter and the measurements it takes are valuable information assets, the loss or corruption of which can have material/financial consequences on the consumer and the utility. The tampering of data exchanged between Smart Meter and the central entity would result in altering Smart Grid operations. Thus, it is of paramount importance to understand the capabilities for an AMI to counter malicious intrusion attempts and to have assurance that the Smart Meter is capable of resisting tampering. Those assessments are reflected in the calculated security level of an AMI. In this thesis was defined what security level for an AMI is reasonable to achieve for every specific scenarios. Additionally, in the thesis was found that an AMI system can be configured in multiple ways. The significance of found results was that in this thesis was outlined a method for assisting in resolving the problem of making a right choice between various configurations for an AMI yielding almost the same security goal.