AbstractSmart grid (SG) has attracted great attention for its reliability, sustainability, and efficiency, which uses artificial intelligence technology, automation technology, and Internet of Things (IoT) technology. In SG, it is crucial to set up a secure communication between an Aggregator (AG) and a Smart Meter (SM) to achieve mutual authentication and key agreement. However, most previous authentication and key management solutions have their own shortcomings in either security or efficiency, which make them difficult to satisfy the security requirements of SG. In this paper, in order to balance the security and efficiency, we propose an efficient and provably secure authenticated key agreement scheme based on the extended Chebyshev chaotic maps for SG environments. The AG and SM can conduct a mutual authentication and key agreement process by applying the extended Chebyshev polynomial operations to reduce the total calculation delay. The proposed scheme provides anonymity protection for SMs to achieve perfect forward secrecy and can resist to the typical attacks including replay attacks and identity forgery attacks by informal security analysis. The security properties are evaluated by using the Canetti and Krawczyk (CK) adversary model. The performance comparison demonstrates that the proposed scheme is efficient and the required security attributes are not compromised.