Hi all, new member here. I have a really dumb question.

Bought a house and the inspection report says "Undersize Meter Base". It's an AS-IS purchase so I have to find a way to fix it.

First I would like to know exactly what this means. I spoke to the inspector and also Googled this term and my understanding is let's say my electric service is 200A, then all the breakers in my panel cannot add up to more than 200A correct? I understand not all circuits may be used at one time, but conceivable you could have all the lights on, frige running, dishwasher running, AC running, water heater, washing machine, dryer, pool pump, sprinklers pump, fans etc etc etc all at the same time right?

Or is it based on what's connected to each circuit and how much Amps are being used?

What is the best way to decide "HOW MUCH" undersized it is?

Now, assume that it is undersized what are my options? The inspector says I need to hire an electrician to fix this. I can do that.

My concerns are, this seems like a fairly serious issue to correct, and for it to have happened, it must mean the previous owner had done some unpermitted work. Would this correction require just work by an electrician or also require permit to make this correction? Would this also require the electric company to increase the service level?