A more thorough explanation:

Definition: Meter rate is the amount of money charged by a utility company for the amount of service used, as determined by a meter. For example, the meter rate for electricity is based on the number of kilowatt-hours used.

Example: If the meter rate for electricity is $0.10 per kilowatt-hour, and a household uses 500 kilowatt-hours in a month, the electricity bill would be $50.

Explanation: The example shows how the meter rate is used to calculate the cost of a utility service. In this case, the meter measures the amount of electricity used, and the meter rate is applied to determine the cost. The more electricity used, the higher the bill will be.