Yes and no. It is not common, virtually everyone has a
normal watt-hour
meter that is read 4 times a year (or should be) and gets a bill shortly
after.
4 times a year?! :oO
In Brazil watt-hour meters are read every month :oo and we have one bill
per service, per month (one for telephone, one for cellular, one for water,
one for energy, etc)