We've had the flush-mounted gas and electricity boxes on the side of our garage since the house was built. We've never had any problems and I can't understand why anyone would want to nick Zero's SiL's meters (see above).
One important point - when the change is made, make sure you record the figures on the old and new meters. Our electricity meter was changed last May and the electricity supplier hadn't taken this into account when I swapped suppliers in September. Fortunately, because I had all the figures to hand, I was able to argue the toss with them and get things moving. I had to explain to all the parties that I didn't trust any of them and that my arithmetic was better than theirs!
In fact, I record gas/electricity/water readings at the beginning of every month - this way I can tell the suppliers what my typical year's useage is without them doing some sort of estimate. I have done this ever since moving into the new house and my neighbour received his first monthly water bill of £350. After denials followed by intense investigation, it was discoved that the builders had put a sharp brick through his water supply pipe when in-filling the trench.
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Gas board re-laying pipes 
Gas board re-laying pipes 