Actually not. The meters read real power for the bill. The capacitors are used to bring the current and voltage back in phase so the meter will read more real power. Other wise power with the voltage and current out of phase can have power go unread at the meter which can be brought back in phase elsewhere in a facility as real power.
True in domestic and perhaps small businesses but industries usually have a meter to measure kVarh, and penalties for poor power factor. A capacitor bank is generally used rather than individual power factor correction on each item of equipment, but some equipment e.g. fluorescent lamps may have individual capacitors.