Best answer by Slinky
No it doesn't, it's an independent device which takes information from the SMART meter. You can put batteries in it and leave it working unplugged, or turn it off by unplugging it. Plugging it back in again will make it connect to your meters if it's close enough.
You don't even need to use at all if you don't want to. Personally I think it just wastes valuable socket space and doesn't make any difference to how I use my energy. If I looked at it every time I boiled the kettle I'd never boil the kettle ever again.