I once encountered a guy who was setting up systems so that you could control a water treatment plant from your ipad at home. His attitude was, "Modbus on one side, ethernet on the other, what could possibly go wrong?" Lots, I told him. A lot of things could go wrong.
>Also, all water meters are being replaced so they can be read remotely without a human physically using an electronic meter reader.
Those are extremely widespread already. And they're pretty open. I wouldn't personally be too worried about any potential exploits since they're simply broadcast only systems and the worst that could probably happen is your'd get a jacked up water bill.
having setup many control systems over the years I can confirm that the state of the art is that bad. it's amazing just how blazé they are about security. also, terrifying.