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Yes, you are missing something.
The point I made about people being allowed to install individual meters was that this would be offset by them paying a real price for their water INSTEAD OF the estimated cost. That is something that would have to be legislated because of the laws governing the distribution of levies. I thought that was pretty clear.
Individual action allied to a tweaking of the hip pocket nerve is often more effective than campaigning to have a whole building change when a large number of owners don’t know or don’t care. All it would take would be for one person to drastically reduce their water bill by the installation of a meter and others would follow, leaving the water wasters to pay a much more realistic amount for their usage.