I rent out the basement of my home, and the circuit breaker box for the whole house is inside a bedroom down there. I would like to move it so that I will not disturb the tenant when a breaker trips, etc. The electrical contractor says he can move it outside, right behind its current location, where the electric meter and cable entry are. I have never heard of an outside circuit breaker box. It would seem to me that it would have to be locked so that burglars could not turn off the electricity, and how good could such a lock be? Also, would it constitute a hazard in terms of shock?

I know of outside circuit breakers, as I have one outside my home and where I live there is rain and snow. The circuit breaker your referring to is located in doors that it doesn't needs a weatherized panel box that is meant for electrical outside the home. And of what I know about outdoor panel boxes, there is a place to but a pad lock with a key or combination lock to prevent unwanted tampering.

Many many home in California have the circuit breaker panels outside. I've never seen one locked, nor heard of problems with vandals or pranksters. Just make sure it's rated for outdoors.

Outside panelboards are approved by the NEC. You must used a listed panel.

First step, is to contact the Power Company and see if they will allow you to have the panel moved. It is their decision because it is their equipment that will be affected. If the meter is to be relocated or the service entry cables are to be changed. Everything from the transformer feed to the meter belongs to the power company.

Next step is to contact your AHJ (Authority Having Jurisdiction) to see what they require.

Next you must get a permit to do that kind of work. Your electrician should already know all of this. If you are going to have this electrician do the work, make sure that he gets the permit. If the permit is pulled in your name as the owner and the work fails inspection, then you are responsible to have the work fixed. If the permit is under his name, he is responsible.

Also, if you make such a change, you may be faced with updating to electrical system to meet current code.