The only part of the stock that Wattwachers replace is the sense...

The only part of the stock that Wattwachers replace is the sense component of OHM which is used to monitor electricity. OHM is comprised of four parts.
The sense stock used for electricity will not be made redundant it will be used to monitor water as per webinar. Oman one of the driest countries in the world that are to spend huge on water conservation, this may see all these sensors deployed. Buddy hired someone that speaks Arabic to negotiate on tendering with the Government of Oman.

IMO the Government would need to monitor the whole water infrastructure of the country to be effective. This will mean every property, pipelines along roads, and were ever a water pipeline exists to detect all water leakage.

How will it be funded? Oil.