I wonder if it has anything to do with the power factor of computers etc and other appliances with AC motors etc that have a certain amount of non-sinewave feedback, as opposed to pure resistive loads. I thought power meters were actually supposed to measure the average power.
Having designed a few power meters in the past of which there are many thousands in current use throughout the world I might comment here.
Modern electronic power meters have the ability to record both active and reactive power, however in single phase domestic situations only your active power is registered for consumption, so if your load presents a poor power factor then that reactive component does not contribute to your bill. Naturally its in the retailer (and lines companies) interest to ensure that the power factor is within a manageable limit.
Older ferraris meters in theory do the same but with nowhere near the accuracy over the same dynamic range as modern electronic solutions.
Cyril