Smart grids are integrated systems utilizing lightweight and intelligent device to monitor, manage, and optimize the production, distribution, and consumption of electricity more effectively. Smart grids employ smart meters which continuously measure the incoming and outgoing flow of electricity and shared those power consumption data to other connected devices. Here, confidential data is shared with many stakeholders like the users (the actual user of electricity), phasor units etc. Therefore, the data security here plays a crucial role. Initially, Pairing based Ciphertext-Policy Attribute-Based Encryption (PB CP-ABE) was used in order to provide fine grain access control, data integrity and confidentiality. But the computationally complexity of this cryptographic technique added over-head to the system reducing its performance. To improve the performance matrix of smart grids, we propose the Pairing Free CP-ABE (PF CP-ABE) which replaces the complex bilinear pairing with simpler scalar multiplication. Finally, we have analyzed the security, and collusion resistance properties of the proposed cryptosystem along with it’s performance analysis.