The evolution of the electrical grid into a smart grid, allowing user production, storage, and exchange of energy; remote control of appliances; and, in general, optimizations over how the energy is managed and consumed, is an evolution into a complex information and communication technology (ICT) system. With the goal of promoting an integrated and interoperable smart grid, a number of organizations all over the world started uncoordinated standardization activities, which caused the emergence of a large number of incompatible architectures and standards. There are now new standardization activities that have the goal of organizing existing standards and produce best practices to choose the right approach(es) to be employed in specific smart grid designs. This paper follows the lead of the National Institute of Standards and Technology (NIST) and the European Telecommunications Standards Institute/European Committee for Standardization/European Committee for Electrotechnical Standardization (ETSI/CEN/CENELEC) approaches in trying to provide taxonomy of existing solutions; our contribution reviews and relates current ICT state of the art with the objective of forecasting future trends based on the orientation of current efforts and on relationships between them. The resulting taxonomy provides guidelines for further studies of the architectures, and highlights how the standards in the last mile of the smart grid are converging to common solutions to improve ICT infrastructure interoperability.