An existing power grid is going through a massive transformation. Smart grid technology is a radical approach for improvisation in prevailing power grid. Integration of electrical and communication infrastructure is inevitable for the deployment of Smart grid network. Smart grid technology is characterized by full duplex communication, automatic metering infrastructure, renewable energy integration, distribution automation and complete monitoring and control of entire power grid. Wireless sensor networks (WSNs) are small micro electrical mechanical systems which are accomplished to collect and communicate the data from surroundings. WSNs can be used for monitoring and control of smart grid assets. Security of wireless sensor based communication network is a major concern for researchers and developers. The limited processing capabilities of wireless sensor networks make them more vulnerable to cyber-attacks. The countermeasures against cyber-attacks must be less complex with an ability to offer confidentiality, data readiness and integrity. The address oriented design and development approach for usual communication network requires a paradigm shift to design data oriented WSN architecture. WSN security is an inevitable part of smart grid cyber security. This paper is expected to serve as a comprehensive assessment and analysis of communication standards, cyber security issues and solutions for WSN based smart grid infrastructure.