... One big problem you have is that there is no neutral conductor in your feeder conduit.
They used the counduit with it's bare ground wire as a neutral/ground which is a BIG problem. You should have a real electrician look at it, ...
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I see a bare copper coming out of the meter conduit... plus the nipple is bonded looks correct from here...
OP-
If you feel like you are OK with electric, then,
Fukk all these answers, do what you want:
Snip the meter tag, and pull out meter...
Now those wires coming from meter are dead...
Now upgrade your service adding a "Main" feeding it, or a back fed breaker on bus, which ever brand panel, use a main...
Otherwise every time you want to work on your electric safe you better pull meter...
Tuen off Main, so there will be no load disconnecting...
Cut Edison/PGE Etc meter tag lock...
Grab Meter Glass with both hands, and pull out, now set on ground...
Check, but all your power just went out...
Now, upgrade your service, use battery tools,
get everything prepped to install new service...
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Side note, do not re-install meter upside down...
It will turn backwards, and that would be stealing...
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FYI your meter read date is on your bill...
Dont pull your meter on same day your meter gets read [Murphy's Law]