Smart meters, as a key component of Advanced Metering Infrastructure (AMI), collect fine-grained electricity consumption data for demand response in smart grids. While this data improves the grid’s accuracy, it also poses significant threats to users’ privacy. In this paper, we study the privacy issue in smart metering systems from both attacker and defender perspectives. First, we propose an improved Temporal Convolutional Network (TCN) based Non-Intrusive Load Monitoring (NILM) attack method, which infers electrical appliance usage from public load curves, addressing the gradient vanishing, gradient exploding, and other problems while improving attack accuracy. Second, we develop a rechargeable battery-assisted energy management system to hide load characteristics of electrical appliances by adding physical noise, thus resisting NILM attacks. To address the privacy-cost trade-off optimization problem, we propose a Practical Deep Reinforcement Learning-based Rechargeable Battery assist Privacy Preserving Method (PRoP) that learns optimal battery charging/discharging policies. We design a novel privacy measurement method and constraints to ensure the feasibility of system deployment and prove PRoP’s effectiveness in resisting NILM attacks. Comprehensive evaluations demonstrate that our improved TCN-based NILM method achieves an attack success rate of over 80% on various electrical appliances, improving attack performance (MAE, RMSE) by 20% compared to existing methods while reducing model training time. Moreover, our proposed PRoP achieves a better trade-off between privacy protection and electricity cost than existing battery-assisted methods, reducing costs by 5% and the attack success ratio to 36%, while increasing the MAE and RMAE obtained by NILM by 3 times. <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">Note to Practitioners</i> —Smart grid, which can support bidirectional information transmission, has a series of advantages, such as high efficiency and high stability. However, it also brings a significant threat to users’ electricity privacy. Although encryption-based privacy protection methods have been deployed on terminal devices of smart grids to prevent privacy leaks, this method can often only defend against intrusive attacks and has little effect on non-intrusive attacks. To this end, this paper studies the privacy issues caused by non-intrusive attacks. Specifically, to better study the protection method, we first investigate the attack mechanism and design an improved TCN-based Non-Intrusive Load Monitoring method. Then, we propose a Practical Reinforcement learning-based rechargeable battery-assisted Privacy preserving method (PRoP) to defend against this attack physically. The most practical contribution of this paper is that, compared with existing battery-assisted privacy protection methods, we do not blindly pursue algorithm performance but fully consider the practical factors of deployment, such as limiting battery capacity and constraining battery charging and discharging behavior. This can guide practitioners to better apply this technology in practice.