Call your electrical service provider to disconnect the power from the main service cable to the socket. The authorized service personnel may also help to disconnect the meter from the socket.
Remove the meter socket cover by unscrewing the screws holding it in place. Underneath it, there are five terminals, two on each end of the socket and one on the side that connect to the ground. Among the two terminals on each end, there is a terminal marked as "L" for the live (or "hot") wire and a terminal marked as "N" for the neutral wire.
Unscrew the terminal screws to loosen them, but do not remove them. Pull out the wires connected to them. Remove the bolts holding the socket casing onto its support using a wrench. Determine the position where you intend to fix your meter socket and drill holes for the bolts to fit in on the socket casing. Mount the socket at this new position and bolt it firmly using a wrench.
Measure the distance from the socket to the meter box and as well to the service supply terminal. Prepare one cable for each of these two lengths. Make sure you give an allowance of 2 feet to the measured lengths for future expansion and repairs.
Strip the tips of the wires in each cable on both ends. Connect one cable to one end of the meter socket with the red or black colored wire joined to the terminal marked "L" and the white wire to the terminal marked "N". The color coding for these wires is standard and should be adhered to for uniformity in connections.
Connect the second cable to the other end of the socket with the red or black wire and the white wire connected to terminals "L" and "N" respectively. Join a wire from the ground terminal to the grounding rod. Tighten the screws on each terminal using a screw driver and replace the socket cover. Contact your service provider again to reactivate your power connection.