The short answer to your question is yes. However the underground cable must be on your side of the meter. Do you have outbuildings which are powered from the house with underground wiring? If you do not then that's not where it's going. If the only underground wire is between the transformer and the house (where the meter is) then it may be leaking but you don't pay for it. Given you have no underground wire after the meter dtart turning off circuits until the meter stops spinning and you will find the culprit.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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