Voltage - Var Control and Optimization (VVC&O) mechanism in distribution system assisted by local controllers and Distributed Management System (DMS) helps in meeting operating criterion and achieving energy savings. Conservation Voltage Reduction (CVR) with VVC&O allows reduction in peak load and energy consumption, by having flat voltage profile near lower bound of ANSI Standards (114V), while maintaining power factor within limit. To estimate the energy saving, CVR factor is needed and accurate load modeling is required to estimate CVR factors. In this work, distribution system was modeled and simulated utilizing data from one of the feeder in Pullman, WA. This paper presents the results of the study done on improving the VVC capabilities by integrating Smart Meter Infrastructure. Load Modeling was done by observing the behavior of loads at each house and comparing the smart meter data with the simulation results. Precision of developed load model provides enough information to make a decision on required changes in voltage at a substation at a given time for energy saving without violating operation criterion. Results of VVC&O show that energy saving of 4-5% can be achieved at the typical distribution substation.