Metered billing is a pricing model where customers are charged based on their actual usage of a service or product. This approach is commonly used in utilities like electricity and water, where consumers pay for the amount they consume rather than a flat fee. It allows for more accurate billing and can encourage users to conserve resources. In addition to utilities, metered billing is also prevalent in industries such as telecommunications and cloud computing. For example, cloud service providers often charge customers based on the amount of data stored or processed, ensuring that users only pay for what they need.