Part of the longer-term vision for smart meters does involve the meter communicating within the home. For instance, you could have a display in the home to tell you about your current consumption, and that would receive data by communicating with the smart meter. Those communications would usually also be by radiofrequencies, although, as the range required (just within the home, not outside it) would be smaller, the power level of the communications would be very low.
That lies in the future, however. In the first instance, the smart meters installed by ESB Networks will not have that functionality, they are simply replacements for your existing meter. And it would be your choice whether to adopt some of those functions and capabilities in future.
One other development is that, in future, smart gas meters send their consumption data to the smart electricity meter, so that the electricity meter can then send both sets of consumption to ESB Networks. Again, that link between the gas meter and the electricity meter would be short range and therefore low power.