diff --git a/.coveragerc b/.coveragerc
index 221b43998c4..eef39ded2bf 100644
--- a/.coveragerc
+++ b/.coveragerc
@@ -180,6 +180,7 @@ omit =
     homeassistant/components/ecobee/weather.py
     homeassistant/components/econet/*
     homeassistant/components/ecovacs/*
+    homeassistant/components/edl21/*
     homeassistant/components/eddystone_temperature/sensor.py
     homeassistant/components/edimax/switch.py
     homeassistant/components/egardia/*
diff --git a/CODEOWNERS b/CODEOWNERS
index 8f821f43fec..8af5a8216a6 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -90,6 +90,7 @@ homeassistant/components/dynalite/* @ziv1234
 homeassistant/components/dyson/* @etheralm
 homeassistant/components/ecobee/* @marthoc
 homeassistant/components/ecovacs/* @OverloadUT
+homeassistant/components/edl21/* @mtdcr
 homeassistant/components/egardia/* @jeroenterheerdt
 homeassistant/components/eight_sleep/* @mezz64
 homeassistant/components/elgato/* @frenck
diff --git a/homeassistant/components/edl21/__init__.py b/homeassistant/components/edl21/__init__.py
new file mode 100644
index 00000000000..f1cd5984744
--- /dev/null
+++ b/homeassistant/components/edl21/__init__.py
@@ -0,0 +1 @@
+"""The edl21 component."""
diff --git a/homeassistant/components/edl21/manifest.json b/homeassistant/components/edl21/manifest.json
new file mode 100644
index 00000000000..313ac2c262e
--- /dev/null
+++ b/homeassistant/components/edl21/manifest.json
@@ -0,0 +1,12 @@
+{
+  "domain": "edl21",
+  "name": "EDL21",
+  "documentation": "https://www.home-assistant.io/integrations/edl21",
+  "requirements": [
+    "pysml==0.0.2"
+  ],
+  "dependencies": [],
+  "codeowners": [
+    "@mtdcr"
+  ]
+}
diff --git a/homeassistant/components/edl21/sensor.py b/homeassistant/components/edl21/sensor.py
new file mode 100644
index 00000000000..a4e0ca734fa
--- /dev/null
+++ b/homeassistant/components/edl21/sensor.py
@@ -0,0 +1,196 @@
+"""Support for EDL21 Smart Meters."""
+
+from datetime import timedelta
+import logging
+
+from sml import SmlGetListResponse
+from sml.asyncio import SmlProtocol
+import voluptuous as vol
+
+from homeassistant.components.sensor import PLATFORM_SCHEMA
+from homeassistant.core import callback
+import homeassistant.helpers.config_validation as cv
+from homeassistant.helpers.dispatcher import (
+    async_dispatcher_connect,
+    async_dispatcher_send,
+)
+from homeassistant.helpers.entity import Entity
+from homeassistant.helpers.typing import Optional
+from homeassistant.util.dt import utcnow
+
+_LOGGER = logging.getLogger(__name__)
+
+DOMAIN = "edl21"
+CONF_SERIAL_PORT = "serial_port"
+ICON_POWER = "mdi:flash"
+MIN_TIME_BETWEEN_UPDATES = timedelta(seconds=60)
+SIGNAL_EDL21_TELEGRAM = "edl21_telegram"
+
+PLATFORM_SCHEMA = PLATFORM_SCHEMA.extend({vol.Required(CONF_SERIAL_PORT): cv.string})
+
+
+async def async_setup_platform(hass, config, async_add_entities, discovery_info=None):
+    """Set up the EDL21 sensor."""
+    hass.data[DOMAIN] = EDL21(hass, config, async_add_entities)
+    await hass.data[DOMAIN].connect()
+
+
+class EDL21:
+    """EDL21 handles telegrams sent by a compatible smart meter."""
+
+    # OBIS format: A-B:C.D.E*F
+    _OBIS_NAMES = {
+        # A=1: Electricity
+        # C=0: General purpose objects
+        "1-0:0.0.9*255": "Electricity ID",
+        # C=1: Active power +
+        # D=8: Time integral 1
+        # E=0: Total
+        "1-0:1.8.0*255": "Positive active energy total",
+        # E=1: Rate 1
+        "1-0:1.8.1*255": "Positive active energy in tariff T1",
+        # E=2: Rate 2
+        "1-0:1.8.2*255": "Positive active energy in tariff T2",
+        # D=17: Time integral 7
+        # E=0: Total
+        "1-0:1.17.0*255": "Last signed positive active energy total",
+        # C=15: Active power absolute
+        # D=7: Instantaneous value
+        # E=0: Total
+        "1-0:15.7.0*255": "Absolute active instantaneous power",
+        # C=16: Active power sum
+        # D=7: Instantaneous value
+        # E=0: Total
+        "1-0:16.7.0*255": "Sum active instantaneous power",
+    }
+    _OBIS_BLACKLIST = {
+        # A=129: Manufacturer specific
+        "129-129:199.130.3*255",  # Iskraemeco: Manufacturer
+        "129-129:199.130.5*255",  # Iskraemeco: Public Key
+    }
+
+    def __init__(self, hass, config, async_add_entities) -> None:
+        """Initialize an EDL21 object."""
+        self._registered_obis = set()
+        self._hass = hass
+        self._async_add_entities = async_add_entities
+        self._proto = SmlProtocol(config[CONF_SERIAL_PORT])
+        self._proto.add_listener(self.event, ["SmlGetListResponse"])
+
+    async def connect(self):
+        """Connect to an EDL21 reader."""
+        await self._proto.connect(self._hass.loop)
+
+    def event(self, message_body) -> None:
+        """Handle events from pysml."""
+        assert isinstance(message_body, SmlGetListResponse)
+
+        new_entities = []
+        for telegram in message_body.get("valList", []):
+            obis = telegram.get("objName")
+            if not obis:
+                continue
+
+            if obis in self._registered_obis:
+                async_dispatcher_send(self._hass, SIGNAL_EDL21_TELEGRAM, telegram)
+            else:
+                name = self._OBIS_NAMES.get(obis)
+                if name:
+                    new_entities.append(EDL21Entity(obis, name, telegram))
+                    self._registered_obis.add(obis)
+                elif obis not in self._OBIS_BLACKLIST:
+                    _LOGGER.warning(
+                        "Unhandled sensor %s detected. Please report at "
+                        'https://github.com/home-assistant/home-assistant/issues?q=is%%3Aissue+label%%3A"integration%%3A+edl21"+',
+                        obis,
+                    )
+                    self._OBIS_BLACKLIST.add(obis)
+
+        if new_entities:
+            self._async_add_entities(new_entities, update_before_add=True)
+
+
+class EDL21Entity(Entity):
+    """Entity reading values from EDL21 telegram."""
+
+    def __init__(self, obis, name, telegram):
+        """Initialize an EDL21Entity."""
+        self._obis = obis
+        self._name = name
+        self._telegram = telegram
+        self._min_time = MIN_TIME_BETWEEN_UPDATES
+        self._last_update = utcnow()
+        self._state_attrs = {
+            "status": "status",
+            "valTime": "val_time",
+            "scaler": "scaler",
+            "valueSignature": "value_signature",
+        }
+        self._async_remove_dispatcher = None
+
+    async def async_added_to_hass(self):
+        """Run when entity about to be added to hass."""
+
+        @callback
+        def handle_telegram(telegram):
+            """Update attributes from last received telegram for this object."""
+            if self._obis != telegram.get("objName"):
+                return
+            if self._telegram == telegram:
+                return
+
+            now = utcnow()
+            if now - self._last_update < self._min_time:
+                return
+
+            self._telegram = telegram
+            self._last_update = now
+            self.async_write_ha_state()
+
+        self._async_remove_dispatcher = async_dispatcher_connect(
+            self.hass, SIGNAL_EDL21_TELEGRAM, handle_telegram
+        )
+
+    async def async_will_remove_from_hass(self):
+        """Run when entity will be removed from hass."""
+        if self._async_remove_dispatcher:
+            self._async_remove_dispatcher()
+
+    @property
+    def should_poll(self) -> bool:
+        """Do not poll."""
+        return False
+
+    @property
+    def unique_id(self) -> str:
+        """Return a unique ID."""
+        return self._obis
+
+    @property
+    def name(self) -> Optional[str]:
+        """Return a name."""
+        return self._name
+
+    @property
+    def state(self) -> str:
+        """Return the value of the last received telegram."""
+        return self._telegram.get("value")
+
+    @property
+    def device_state_attributes(self):
+        """Enumerate supported attributes."""
+        return {
+            self._state_attrs[k]: v
+            for k, v in self._telegram.items()
+            if k in self._state_attrs
+        }
+
+    @property
+    def unit_of_measurement(self):
+        """Return the unit of measurement."""
+        return self._telegram.get("unit")
+
+    @property
+    def icon(self):
+        """Return an icon."""
+        return ICON_POWER
diff --git a/requirements_all.txt b/requirements_all.txt
index 121646cae11..fad600e918d 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -1529,6 +1529,9 @@ pysmartthings==0.7.0
 # homeassistant.components.smarty
 pysmarty==0.8
 
+# homeassistant.components.edl21
+pysml==0.0.2
+
 # homeassistant.components.snmp
 pysnmp==4.4.12